The inefficiency of political control of an economy has been demonstrated more often, in more places, and under more varied conditions, than almost anything outside the realm of pure science.

Anyone who does not understand the utter cynicism of politics does not understand politics.

Any statistics can be extrapolated to the point where they show disaster.

At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment.

An e-mail from a reader says that liberals like to take the moral high ground, even though their own moral relativism means that there is no moral high ground.

In the wake of the housing debacle in California, more people are buying less expensive homes, making bigger down payments, and staying away from 'creative' and risky financing. It is amazing how fast people learn when they are not insulated from the consequences of their decisions.

Any policy is a success by sufficiently low standards and a failure by sufficiently high standards.