Socialized medicine must fail for the same reasons all socialism must fail: it offers no system for rationally allocating resources, and instead promotes the overutilization of all resources, ending in bankruptcy.

Wealth is not a given or an accident of history. It is not bestowed on us like rain from above. It is the product of human creativity in an environment of freedom. The freedom to own, to make contracts, to save, to invest, to associate, and to trade: these are the key to prosperity.

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

American federalism was the embodiment of political tolerance and decentralization - the expression of the liberal conviction that society can manage itself and needs no central plan.

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

American money was never more sound, or banking more free, than 200 years ago. Since then, it's been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.

All the stuff that makes life worth living is produced privately, and all that the government does is slow down the progress of civilization and bring destruction and disaster wherever it goes.