It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.

History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.

When you start paying people to be poor, you wind up with an awful lot of poor people.

The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining the "rule of the game" and as an umpire to interpret and enforce the rules decided on.

Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.

Never try to walk across a river just because it has an average depth of four feet.

I can spend somebody else's money on somebody else. And if I spend somebody else's money on somebody else, I'm not concerned about how much it is, and I'm not concerned about what I get. And that's government.