The washing machine changed the world more than the Internet..

Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them..

The foundation of economic development is the acquisition of more productive knowledge..

All the alleged key causes of SOE [State-Owned Enterprise] inefficiency - the principal-agent problem, the free-rider problem and the soft budget con….

Culture changes with economic development..

Above a certain level of income, the relative value of material consumption vis-a-vis leisure time is diminished, so earning a higher income at the c….

95% of Economics is common sense deliberately made complicated..

Low inflation and government prudence may be harmful for economic development..

History is on the side of the regulators..

To paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms..

As South Korea shows, active participation in international trade does not require free trade. Indeed, had South Korea pursued free trade and not pro….

95 percent of economics is common sense made complicated, and even for the remaining 5 percent, the essential reasoning, if not all the technical det….

The days are over when technology can be advanced in laboratories by individual scientists alone. Now you need an army of lawyers to negotiate the ha….

Rich countries have 'kicked away the ladder' by forcing free-market, free-trade policies on poor countries. Already established countries do not want….

The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of their income..

We are not smart enough to leave things to the market..

Since the 1980s, we have given the rich a bigger slice of our pie in the belief that they would create more wealth, making the pie bigger than otherw….

The free market doesn't exist. Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unc….

Financial markets need to become less, not more, efficient..

The invention of the printing press was one of the most important events in human history..

Manufacturing is the most important...route to prosperity..