What we're talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up...
It was a good 15 or 20 years before anyone at Rand would be in the same room with me. They didn't want the question raised, 'What's your relationship with Daniel Ellsberg?' And not one of them wrote me a letter because they didn't want a letter of th...
Every time you have a carrot instead of a cookie, every time you go to the gym instead of going to the movies, that's a costly investment in your health. But how much you want to invest is going to depend on how much longer you expect to live in the ...
What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation s...
Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of a...
Some people think it's a law that when productivity goes up, everybody benefits. There is no economic law that says technological progress has to benefit everybody or even most people. It's possible that productivity can go up and the economic pie ge...
For a variety of reasons, I have always felt myself an outsider. I don't know how to classify myself in economics. I am a loner. I do not like groupthink, which, if anything, has become more important in economics. In addition, a lot of the values I ...
When a series is doing well, it's very tempting to keep writing it, even when the creative well is drying up. It's tempting because that's where the money is. I've had to be very careful; as soon as I think I'm getting close to that dry well, I wrap ...
I've always had an idealistic streak about storytelling in that I believe we owe more to audiences than repeatedly bludgeoning them over the head while stealing their lunch money. We owe them inspiration. That's why I'm more interested now in creatin...
I should just put it bluntly, because we're all sort of friends here now - it's exceedingly likely that my greatest success is behind me. Oh, so Jesus, what a thought! You know that's the kind of thought that could lead a person to start drinking gin...
If you are the record label who owns Lady Gaga, and you have a new artist coming up, you can say, 'Let's have the artist play just before Gaga.' Now you've exposed the huge Gaga audience to the new artist. It's similar to showing a trailer before a m...
Television is much more complex, brain-challenging and involved than it used to be. It's almost impossible to watch a television show from 15 years ago; it's just too boring. I think modern television shows, with their intricate plots, are stimulatin...
The obsessive focus on a college degree has served neither taxpayers nor students well. Only 35 percent of students starting a four-year degree program will graduate within four years, and less than 60 percent will graduate within six years. Students...
When the FDA forces an old drug off the market, patients have very little say in the matter. Patients have even less of a say when the FDA chooses not to approve a new drug. Instead, we are supposed to rely on the FDA's judgment and be grateful. But ...
The quasi-peaceable gentleman of leisure, then, not only consumes of the staff of life beyond the minimum required for subsistence and physical efficiency, but his consumption also undergoes a specialisation as regards the quality of the goods consum...
Gym class was, of course, where the strongest, best-looking kids were made captains and chose us spazzes last. More important, it was where the figures of supposed authority allowed them to do so. Forget the work our parents did molding our minds and...
...in the unique case of a country’s geographic position, it is difficult to consider this factor as anything other than a cause, unless we assume that in prehistoric times peoples migrated to climates that fit their concepts of power distance, whi...
Literature, I have always thought, is in most places and companies a singularly dull and uninteresting thing to talk about, but one may, as a rule, hate literary conversation, and yet at the right moment, with all its powers of feeling, the mind in s...
Persuading everyone to behave decently to each other because the society is so fragile is a worthy goal, but it may be more straightforward just to make the societies less fragile, which means developing their economies.
If you go out into the real world, you cannot miss seeing that the poor are poor not because they are untrained or illiterate but because they cannot retain the returns of their labor. They have no control over capital, and it is the ability to contr...
I was hiking a five-day loop - alone - in the Rocky Mountains when I rounded the switchback and saw a large body on the trail ahead. It had brown fur with a cinnamon tinge that was draped across dense, humped back muscle. A broad head lifted and I co...
