Always and everywhere, the only serious political issue is what the state should and should not do. All the rest distracts.

The fact is that the New Deal did not work. It prolonged what might have been a troubling two-year downturn into a horrifying blow to world prosperity that ended up in a war that killed countless millions. It was one of the greatest acts of wreckage in world history.

If credit expansion, protectionism, and government spending were a path to prosperity, mankind would have long ago created heaven on earth.

Subsidies create more of whatever is being subsidized.

What makes for the good society is a sound economy. Without it, all the rest falls apart.

Never underestimate the power of bad ideas. They must be refuted again and again.

If the people are led to believe that scarce resources are best channeled in a direction that producers and consumers would not choose on their own, the result must necessarily be central planning.