You never can cure poverty. Poverty is in the eye of the beholder.

The euro is good for Europe. But only if there is flexibility all around.

Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion - the technique of the army and of the modern totalitarian state. The other is voluntary cooperation of individuals - the technique of the marketplace.

There have been unions based on gold or silver, but not on fiat money - money tempted to inflate - put out by politically independent entities.

Is it really true that political self-interest is nobler somehow than economic self-interest?

The argument for the free market is a complicated and sophisticated one and depends on demonstration of secondary effects. I have confidence market efficiency will win out.

The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.