The essential quality of a market system, contrary to popular thinking, is not that it promotes greed; but rather, that it renders greed harmless.
Here's something I still can't get over. Amazes and thrills me every time. I'm sitting here and want a certain book. So I search, click, and then I have the book. Every time, my heart does a little le...
The rise of Robber Barons and their monopoly trusts in the late nineteenth and early twentieth centuries underscores that, as we already emphasized in chapter 3, the presence of markets is not by itse...
I was convinced that I was totally incompetent in predicting market prices - but that others were generally incompetent also but did not know it, or did not know they were taking massive risks. Most t...
A market economy is to economics what democracy is to government: a decent, if flawed, choice among many bad alternatives.