Almost 60-odd years ago in Canada. I was studying agriculture, how to produce better chickens, better cattle, better horses - horses in those days - better fruit, better vegetables. This was in the early years of the Great Depression, and the thoughts crossed my mind that there wasn't a hell of a lot of use producing better crops and better livestock if you couldn't sell them, that the real problem of agriculture was not efficiency in production but the problem of whether you could make money after you produced the stuff. So I shifted from the technical side to, first, the study of agricultural economic issues and then on to economics itself.

We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security…

Broadly speaking, [Keynesianism means] that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own auton…

The contented and economically comfortable have a very discriminating view of government. Nobody is ever indignant about bailing out failed banks and failed sa…

All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of …

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Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather …