Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.

Eternal vigilance is only part of the price of freedom. The maturity to live with imperfections is another crucial part of the price of freedom.

Congressman Frank and Senator Dodd wanted the government to push financial institutions to lend to people they would not lend to otherwise, because of the risk of default. ... The idea that politicians can assess risks better than people who have spent their whole careers assessing risks should have been so obviously absurd that no one would take it seriously.

The government does not have some magic wand that can 'bring down the cost of health care.' It can buy a smaller quantity or lower quality of medical care, as other countries with government-run medical care do.

People have a vested interest in promoting one set of polices rather than finding out what the truth is.

Economic policies need to be analyzed in terms of the incentives they create, rather than the hopes that inspired them.

One of the consequences of such notions as ‘entitlements’ is that people who have contributed nothing to society feel that society owes them something, apparently just for being nice enough to grace us with their presence.