Milton Friedman and I had our differences about foreign policy. I tried, in vain, to persuade him to be against the first Gulf war. Even there, thoug… - David R. Henderson

People often criticize government schools in the United States for teaching little and doing it in boring ways, yet many advocate increasing the amount of time that children are in school. This reminds me of the old joke about two people complaining about the food at a restaurant. ‘The food tastes awful,’ says one. The other replies, ‘And the portions are so small.’ Given the amount of oppression and simple boredom that goes on in government schools today, thank goodness the portions are so small.

The efficacy regulations on drugs, economists have found in countless studies, have delayed the introduction of new drugs by years and added hundreds of millions of dollars to the cost of developing a typical new drug.

Most people understand the right to property better in practice than in theory. This was vividly illustrated by economist Gordon Tullock in a class he taught at the University of Virginia in the late 1960s. An undergraduate student in his class said that there was no such thing as property rights;…. So Gordon grabbed the student’s wallet. The student asked him to give it back, figuring presumably, that his simple request would get him his wallet back. But Tullock refused, saying that if there was no such thing as property rights, how could he, the student, own this wallet that he claimed as his.