Most of the energy of political work is devoted to correcting the effects of mismanagement of government.

I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior.

Making prohibition work is like making water run uphill; it's against nature.

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

Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?

The power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power... Any system which gives so much power and so much discretion to a few men, [so] that mistakes - excusable or not - can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic - this is the key political argument against an independent central bank.

Governments never learn. Only people learn.