Investing Should Be More Like Watching Paint

By Keeping Labor Supply Down, Immigration Policy Tends To Keep Wages High. Let Us Underline This Basic Principle: Limitation Of The Supply Of Any Grade Of Labor Relative To All Other Productive Factors Can Be Expected To Raise Its Wage Rate; And Increase In Supply Will, Other Things Being Equal, Tend To Depress Wage Rates.

Contrary To What Many Skeptics Had Earlier Believed, The Soviet Economy Is Proof That A Socialist Command Economy Can Function And Even Thrive.

Thousands Of Important And Intelligent Men Have Never Been Able To Grasp The Principle Of Comparative Advantage Or Believe It Even After It Was Explained To Them

Companies Are Not Charitable Enterprises: They Hire Workers To Make Profits. In The United States, This Logic Still Works. In Europe, It Hardly Does.

Asia's Governments Come In Two Broad Varieties: Young, Fragile Democracies - And Older, Fragile Authoritarian Regimes.