In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor force will work for the lowest wage.

But of course you can have your cake and eat it, too - if you decide to to bake a second cake. And you may well find that baking two cakes does not take twice the work of baking one.

The economic illusion is the belief that social justice is bad for economic growth.

As a scholarly discipline, economics has always suffered from physics envy.

When laissez-faire creates instability, the move to a freer market can be something less than pure gain.

If social security depresses savings rates, it is only because it is unfunded.

Henry Ford, in a sense, was the first Keynesian. He paid his assembly workers high wages so they could afford to buy his cars.

Not surprisingly, extensive effort in Britain and America goes into finding tax shelter. the system is "efficient" for the shelter industry, not for the economy.

It is more than a little ironic that "capital accumulation" once a rather tendentious Marxian view of a supposed capitalist obsession, should have become - of all things - Wall Street's own slogan.

In practice, a good deal of the outcomes produced by the market reflect nothing more than luck - good or bad.

What do you call an economist with a prediction? Wrong.

Greed has always been humanity's downfall

'The war in Iraq - if Osama was a Christian - it's the Christmas present he never would have expected.

I can sit all day in a comfortable chair and watch ball games, but I don't need a blanket.

The body is solid material wrapped around the breath

I didn't have any concept of Trainspotting being published. It was a selfish act. I did it for myself.

If there were nothing else to trouble us, the fate of the flowers would make us sad.

There is no confidence in the Arab world today in the United States of America.

That should be your town motto. It's all I ever hear. Like: New Hampshire, Live Free or Die. It should be: Despair, You Need To Leave Now.

I think it's unhelpful to suggest that the task of evangelism is essentially the responsibility of ministers.

I have never worn dresses by grands couturiers.