Colleges should offer lots of optional life-enriching experiences, like intramural basketball and a place to sunbathe. But reading books, like basketball or sunbathing, is a leisure activity, neither more nor less admirable than any other, and colleges should not pretend otherwise.

If it's okay to enrich ourselves by denying foreigners the right to earn a living, why shouldn't we enrich ourselves by invading peaceful countries and seizing their assets? Most of us don't think that's a good idea, and not just because it might backfire. We don't think it's a good idea because we believe human beings have human rights, whatever their colour and wherever they live. Stealing assets is wrong, and so is stealing the right to earn a living, no matter where the victim was born.

If you bake a cupcake, the world has one more cupcake. If you become a circus clown, the world has one more squirt of seltzer down someone's pants. But if you win an Olympic gold medal, the world will not have one more Olympic gold medalist. It will just have you instead of someone else.

[Economics] is all about observing the world with genuine curiosity and admitting that it is full of mysteries