Economic institutions shape economic incentives: the incentives to become educated, to save and invest, to innovate and adopt new technologies, and so on. It is the political process that determines what economic institutions people live under, and it is the political institutions that determine how this process works.

Politics is the process by which a society chooses the rules that will govern it.

As we will show, poor countries are poor because those who have power make choices that create poverty.

Central planning was just not good at replacing what the great eighteenth-century economist Adam Smith called the “invisible hand” of the market. When the plan was formulated in tons of steel sheet, the sheet was made too heavy. When it was formulated in terms of area of steel sheet, the sheet was made too thin. When the plan for chandeliers was made in tons, they were so heavy, they could hardly hang from ceilings.

I'm not very happy. I'm frustrated with human beings. I'm the guy who just wants to smack people in the face and say, 'Wake up!'

I have no interest in murder, and I have no interest in people dying, ... But I'm interested in people's minds, and sometimes Manson puts thoughts together that I find really interesting. Have you ever seen his unedited videos? He starts making a lot of sense. I'm sure people are scared of that, but to me, it's scarier to watch George Bush try to make sense.