“Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.”

“Socialism is a wonderful idea. It is only as a reality that it has been disastrous. Among people of every race, color, and creed, all around the world, socialism has led to hunger in countries that used to have surplus food to export.... Nevertheless, for many of those who deal primarily in ideas, socialism remains an attractive idea -- in fact, seductive. Its every failure is explained away as due to the inadequacies of particular leaders. ”

“Since this is an era when many people are concerned about 'fairness' and 'social justice,' what is your 'fair share' of what someone else has worked for?”

“One of the consequences of such notions as ‘entitlements’ is that people who have contributed nothing to society feel that society owes them something, apparently just for being nice enough to grace us with their presence.”

“Where recyling takes place only in response to political pressures and exhortations, it need not meet the test of being incrementally worth its incremental costs. Accordingly, studies of government-imposed recycling programs in the United States have shown that what they salvage is usually worth less than the cost of salvaging it.”

“Competition does a much more effective job than government at protecting consumers.”

“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”