Prices impose the most effective kind of rationing - self-rationing. Why is rationing necessary? Because what everybody wants always adds up to more than there is. . .Resources are limited but desires are not. That is the basic and defining problem of economics.

The political left has been weak on protecting society from criminals for more than two centuries.

Any politician who starts shouting election-year demagoguery about the rich and the poor should be asked, "What about the other 90 percent of the people?"

Compassion is the use of public funds to buy votes

You may scoff at the Tooth Fairy if you like. But the Tooth Fairy's approach has gotten more politicians elected than any economist's analysis.

There are no solutions; there are only trade-offs.

The only thing better than "hands-on" experience is hands-off experience - enough experience to understand that some things will turn out better if left alone.