“What sense would it make to classify a man as handicapped because he is in a wheelchair today, if he is expected to be walking again in a month, and competing in track meets before the year is out? Yet Americans are generally given 'class' labels on the basis of their transient location in the income stream. If most Americans do not stay in the same broad income bracket for even a decade, their repeatedly changing 'class' makes class itself a nebulous concept. Yet the intelligentsia are habituated, if not addicted, to seeing the world in class terms.”

“I once heard Jerry Yang, the cofounder of Yahoo!, quote a senior Chinese government official as saying, "Where people have hope, you have a middle class." I think this is a very useful insight. The existence of large, stable middle classes around the world is crucial to geopolitical stability, but middle class is a state of mind, not a state of income. That's why a majority of Americans always describe themselves as "middle class," even though by income statistics some of them wouldn't be considered as such. "Middle class" is another way of describing people who believe that they have a pathway out of poverty or lower-income status toward a higher standard of living and a better future for their kids.”

“Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned.”

“The staunchest conservatives advocate a range of changes which differ in specifics, rather than in number or magnitude, from the changes advocated by those considered liberal…change, as such, is simply not a controversial issue. Yet a common practice among the anointed is to declare themselves emphatically, piously, and defiantly in favor of 'change.' Thus those who oppose their particular changes are depicted as being against change in general. It is as if opponents of the equation 2+2=7 were depicted as being against mathematics. Such a tactic might, however, be more politically effective than trying to defend the equation on its own merits. ”

“Much of the social history of the Western world over the past three decades has involved replacing what worked with what sounded good.”

“Bailing out people who made ill-advised mortgages makes no more sense that bailing out people who lost their life savings in Las Vegas casinos.”

“Unfortunately, the real minimum wage is always zero, regardless of the laws, and that is the wage that many workers receive in the wake of the creation or escalation of a government-mandated minimum wage, because they lose their jobs or fail to find jobs when they enter the labor force. Making it illegal to pay less than a given amount does not make a worker’s productivity worth that amount—and, if it is not, that worker is unlikely to be employed.”