Anything that government can do, private enterprise can do for half the cost.

Only a crisis - actual or perceived - produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes the politically inevitable.

I do not believe there is a natural resource economics. I believe there is good economics and bad economics.

When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought through, and are made effective.

Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.

Inflation is the one form of taxation that can be imposed without legislation.

A real gold standard is thoroughly consistent with [classical] liberal principles and I, for one, am entirely in favor of measures promoting its development.