The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

p. Applied Economics: Thinking Beyond Stage One ISBN 0-465-08143-6
2002. ISBN 978-0-300-10775-3.

He is the author of more than 30 books. He dropped out of high school and served in the United States Marine Corps during the Korean War. Since 1980 he has worked at the Hoover Institution at Stanford University.