Political power intoxicates the best hearts. No man is wise enough, nor good enough, to be trusted with much political power.

An ounce of gold is an ounce of gold, whether it consists of guineas, sovereigns or eagles.

Centers of unionism are also the centers of unemployment.

When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.

The transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.

The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time.

There is no escape from the vast imbalances in international trade and finance. They will be corrected, sooner or later, by the inexorable principles that govern human action.