Tim HarfordPhoto links here, here, here and here.
The great majority of immigrants all over the world, both legal and illegal, move for economic reasons: to find jobs that pay a lot more than they can earn in their origin countries. For example, the average illegal immigrant in the United States from Mexico appears to earn about three to four times what he would earn in Mexico. This is why virtually all the illegal (and legal) immigration is from poorer to richer countries. Immigration increases when poorer countries are hit by recessions and financial crises, and by internal conflicts that make life there dangerous and more uncertain. ... Expansion of legal immigration would be good for America, and it would also further cut down the number of illegal immigrants by enabling more of them to come legally and gain the many advantages of legal status.--Gary Becker
We need (low) inflation to prevent (high) inflation.--Scott Sumner
If a Reaganite was president and doing aggressive supply-side policies, you can be sure the WSJ would be demanding easier money to help facilitate growth, just as they asked for easier money when Reagan himself was president and inflation was 4%. Recent conservative hysteria about inflation is completely at odds with their relative silence during the Bush years, when inflation was higher than under Obama, and the dollar plummeted in value (it’s been fairly stable under Obama.)--Scott Sumner
In practice behavioral insights are applied mainly to increase the scope and scale of government, which presumably is staffed by unbiased administrators. Consider than Al Gore cozied up to ethanol when he was trying to be President but now agrees it was counterproductive, and like the sugar cane quotas created a permanent policy that cost merely tens of billions in waste. Such are the results of presumably high-minded objectives, all twisted by the absence of competition.--Eric Falkenstein
Alas, Rawlsian justice is radical egalitarian redistribution of wealth and even esteem, infringing on a lot of freedom of contract by other people merely because they happened upon having more stuff (the Rawlsian condition that forced redistribution should not hurt the least advantaged person basically makes it moot, because the least advantaged person in any society is a miserable wretch not helped nor hurt by anything). A Rawlsian utopian would equally reward, in all ways, the person who sits looking at butterflies all day and he who plays great basketball, the CEO and the janitor. This doesn't generate Sweden (prosperous and equal) rather, illiberal hell-holes like Cambodia and Russia at their worst.--Eric Falkenstein
Why am I the only one not nervous?--Yao Ming, before a team drug test
Walter Russell Mead