The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.

The welfare state is not really about the welfare of the masses. It is about the egos of the elites.

'Fair' is one of the most dangerous concepts in politics. Since no two people are likely to agree on what is 'fair,' this means that there must be some third party with power - the government - to impose its will. The road to despotism is paved with 'fairness'.

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

In their zeal for particular kinds of decisions to be made, those with the vision of the anointed seldom consider the nature of the: process: by which decisions are made. Often what they propose amounts to third-party decision making by people who pay no cost for being wrong-surely one of the least promising ways of reaching decisions satisfactory to those who must live with the consequences.

The key fallacy of so called gun control laws is that such laws do not in fact control guns. They simply disarm law abiding citizens, while people bent on violence find firearms readily available.

It is so easy to be wrong-and to persist in being wrong-when the costs of being wrong are paid by others.