Britain, with the most completely socialized health system in the West, now spends the lowest fraction of GNP on health care of any major nation. There are frequent complaints of excessive waits for elective surgery and other inconveniences, but British citizens live slightly longer than Americans, on average, and our overall health conditions are comparable.

Technological change is beneficial only when other jobs replace the ones lost.

In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor force will work for the lowest wage.

In practice, a good deal of the outcomes produced by the market reflect nothing more than luck - good or bad.

As a scholarly discipline, economics has always suffered from physics envy.

Technological advance often thrives in sheltered and subsidized markets, which defy free trade.

If Boeing got a big head start on the 707 from multibillion-dollar military contracts to develop an air force transport, is that a sin against free trade?