Americans know very little about social statistics, but I am not sure that it's important that Americans know about social statistics.

The great virtue of a free market is that it enables people who hate each other, or who are from vastly different religious or ethnic backgrounds, to cooperate economically. Government intervention can't do that.

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

The major basis for my opposition to marijuana prohibition has not been how badly it's worked, the fact that it's produced much more harm than good - it has been primarily a moral reason: I don't think the state has any more right to tell me what to put into my mouth than it has to tell me what can come out of my mouth.

The long-range sloution to high unemployment is to increase the incentive for ordinary people to save, invest, work, and employ others. We make it costly for employers to employ people; we subsidize people not to go to work We have a system that increasingly taxes work and subsidizes nonwork.

My interest in political philosophy was rather casual until I met Hayek.

I think that nothing is so important for freedom as recognizing in the law each individual’s natural right to property, and giving individuals a sense that they own something that they’re responsible for, that they have control over, and that they can dispose of.