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.

It is clear that these are alternative methods of co-ordinating production. Yet, having regard to the fact that, if production is regulated by price movements, production could be carried on without any organization at all might we ask, why is there any organization?

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

If you torture the data long enough, it will confess.

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.

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

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.