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.

Few of the great tragedies of history were created by the village idiot, and many by the village genius.

Civil rights used to be about treating everyone the same. But today some people are so used to special treatment that equal treatment is considered to be discrimination.

You have to have a sense of humor if you follow politics. Otherwise, the sheer fraudulence of it all will get you down.

Many bad policies are simply good policies taken too far.

Neither the depth of despondency nor the height of euphoria tells you how long either will last.

Of all ignorance, the ignorance of the educated is the most dangerous. Not only are educated people likely to have more influence, they are the last people to suspect that they don't know what they are talking about when they go outside their narrow fields.