But part of the job of economics is weeding out errors. That is much harder than making them, but also more fun.

There is not some glorious theoretical synthesis of capitalism that you can write down in a book and follow. You have to grope your way

Everything reminds Milton of the money supply. Well, everything reminds me of sex, but I keep it out of the paper.

If God had meant there to be more than two factors of production, He would have made it easier for us to draw three-dimension al diagrams.

I remember once reading that it is still not understood how the giraffe manages to pump an adequate blood supply all the way up to its head; but it is hard to imagine that anyone would conclude tht giraffes do not have long necks. At least not anyone who had ever been to a zoo

Why does a public discussion of economic policy so often show the abysmal ignorance of the participants?

The world can, in effect, get along without natural resources, so exhaustion is just an event, not a catastrophe.