What is called 'capitalism' might more accurately be called consumerism. It is the consumers who call the tune, and those capitalists who want to remain capitalists have to learn to dance to it.

Facts do not speak for themselves. They speak for or against competing theories. Facts divorced from theories or visions are mere isolated curiosities.

If the battle for civilization comes down to the wimps versus the barbarians, the barbarians are going to win.

Freedom is unlikely to be lost all at once and openly. It is far more likely to be eroded away, bit by bit, amid glittering promises and expressions of noble ideals.

One of the most basic and pervasive social processes is the sorting and labeling of things, activities, and people... Sorting and labeling processes involve a trade-off of costs and benefits. In general, the more finely the sorting is done, the greater the benefits - and the costs... Sorting and labeling, whether of people or of things, is a sorting and labeling of probabilities rather than of certainties.

A shortage is a sign that somebody is keeping the price artificially lower than it would be if supply and demand were allowed to operate freely.

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.