I was an advocate of the ...

I was an advocate of the deregulation movement and I made - along with a lot of other smart people - a fundamental mistake, which is that deregulation works fine in industries which do not pervade the economy. The financial industry undergirded the entire economy and if it is made riskier by deregulation and collapses in widespread bankruptcies as what happened in 2008, the entire economy freezes because it runs on credit.
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 Richard Posner

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The Constitution has to be interpreted loosely, otherwise it becomes a straitjacket. You can't interpret it literally. You can pretend to, and go digging around in 18th Century dictionaries to figure out what 'cruel and unusual punishment' meant or what the 'right to bear arms' meant, but that is all fake really. The Constitution has to be interpreted in light of modern needs, and that's what they (the strict interpreters) end up doing in spite of all their investigations.
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 Richard Posner
It is the censor's business to make a judgment about the propriety of the content or message of the proposed expressive activity. The regulation here does not authorize any judgment about the content of any speeches. ... A park is a limited space, and to allow unregulated access to all comers could easily reduce rather than enlarge the park's utility as a forum for speech. Just imagine two rallies held at the same time in the same park area using public-address systems that drowned out each other's speakers.
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 Richard Posner
But Friedman seemed to share Friedrich Hayek's extreme and inaccurate view that socialism of the sort that Britain embraced under the old Labour Party was incompatible with democracy, and I don't think that there is a good theoretical or empirical basis for that view. The Road to Serfdom flunks the test of accuracy of prediction!
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 Richard Posner
A diversity of approaches is necessary if there is to be a good chance of hitting on one that works. Progress is a social undertaking & achievement, because people see things differently
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 Richard Posner
Because reputation lags achievement, we should expect people to reach the zenith of their reputation well past the zenith of their productive output
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 Richard Posner