People in the political world have every incentive to say things that lead voters away from a clear economic understanding of issues. What has happened more and more is that organized groups have more and more reasons to say things that don't make any economic sense.

In this era of political correctness, some people seem unaware that being squeamish about words can mean being blind to realities.

Relevance is not something you can predict. It is something you discover after the fact.

It doesn't matter how smart you are unless you stop and think.

Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.

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.

To say that 'wealth in America is so unfairly distributed in America,' as Ronald Dworkin does, is grossly misleading when most wealth in the United States is not distributed: at all. People create it, earn it, save it, and spend it.