Most of economics can be summarized in four words: 'People respond to incentives.' The rest is commentary.

Economic policies command bipartisan support only when they're incoherent.

A well-known mathematician once told me that the great thing about liking both math and sex was that he could do either one while thinking about the other.

It is something of a miracle that individual selfish decisions (in a market economy) must lead to a collectively efficient outcome.

Most of economics can be summarized in four words: 'People respond to incentives.' The rest is commentary.