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

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.

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.

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.

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

The paradise of praying is like a palace of full of precious things.

If there is a new fascism, it won't come from skinheads and punks; it will come from people who eat granola and think they know how the world should be.

History,' Mari muttered, as if she'd overheard his thoughts. 'Why do we need to know what happened before we were born?' 'So hopefully we get smarter and don't make the same mistakes again.

Defeating human trafficking is a great moral calling of our time...

I haven't always done a good job, and I haven't always been successful - but I know that I have tried.

I love art. But I love it because it is the expression of a living philosophy. It's the leftovers. Art is what's left over from life.

I was wrong. God's law is only Love.

People travel to marvel at the mountains, seas, rivers and stars and they pass right by themselves without astonishment.

Casey (Stengel) knew his baseball. He only made it look like he was fooling around. He knew every move that was ever invented and some that we haven't even caught on to yet.

A pretty girl is certainly comparable to a good horse.