You can pay certain people more money and stuff but that's just going to be a transfer from one group to another. The only way people's wages are going to rise overall, or average median income is going to rise, is if you increase productivity.

To end cronyism we must end government's ability to dole out favors and rig the market.

In America, the first thing we have to get rid of is entitlements for the wealthy, and at the same time, open up the economy to the disadvantaged.

I think this is so important - what's not done well at education at every level - is helping kids find, as I discovered for myself, what I was good at. I was very lucky to find out that at an early age, which set my direction in life.

If you never failed, then you're probably not doing very much.

A market system is not a profit system, it's a profit-and-loss system.

If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.