What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.

The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.

The combination of economic and political power in the same hands is a sure recipe for tyranny.

The key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

It all would have been much better if individuals saved for their own old age.

To the free man, the country is the collection of individuals who compose it, not something over and above them.

I'd like to promote lots of things. I'd like to promote elimination of drug prohibition. I'd like to promote parental choice in education through vouchers. Those are two things I think are very urgent and important. They're both more important than the harm which Social Security will do.