It was wrong to allow Stalin to shape the European landscape of the 20th century. It would be even more wrong to let him shape the landscape of the 21st century

It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today. Our prosperity is linked inextricably to the maintenance of a strong world economy, an open international trading system, and stable global financial markets.

There are children who are working in textile businesses in Asia who would be prostitutes on the streets if they did not have those jobs

You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.

A good rule of thumb for many things in life holds that things take longer to happen than you think they will, and then happen faster than you thought they could.

In the history of the world, no one has ever washed a rented car.

What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy.