In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

I'm a plain soap kind of guy.

Excessive optimism sows the seeds of its own reversal.

We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.

Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.

I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.

The arts develop skills and habits of mind that are important for workers in the new economy of ideas.