We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather than dispelled by the political organization, exert a strong influence on policy making.

Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.

A firm, therefore, consists of the system of relationships which comes into existence when the direction of resources is dependent on an entrepreneur... As a firm gets larger, there may be decreasing returns to the entrepreneur function, that is, the costs of organising additional transactions within the firm may rise.

In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.

I can't remember one [example of regulation] that's good. Regulation of transport, regulation of agriculture - agriculture is a, zoning is z. You know, you go from a to z, they are all bad. There were so many studies, and the result was quite universal: The effects were bad.

Data can't speak for itself; it's up to you to give it a voice. Try to speak truthfully.

Ronnie had it right calling it Torture. That is a much more accurate description the way I see it.