Columbus did not seek a new route to the Indies in response to a majority directive.

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.

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

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

We have a system that increasingly taxes work and subsidizes nonwork.

The great danger to the consumer is the monopoly -whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who is eager to sell to him. Alternative sources of supply protect the consumer far more effectively than all the Ralph Naders of the world.

George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, "So here I am losing weight and gaining pounds.