I am a libertarian with a small "l" and a Republican with a capital "R". And I am a Republican with a capital "R" on grounds of expediency, not on principle.

Had drugs been decriminalized, crack would never have been invented and there would today be fewer addicts... The ghettos would not be drug-and-crime-infested no-man's lands... Colombia, Bolivia and Peru would not be suffering from narco-terror, and we would not be distorting our foreign policy because of it.

You will find that hardly a soul who will say that it was a bad thing. Almost everybody will say it was a good thing. 'But what about today? Do you think we should have free immigration?' 'Oh, no,' they'll say, 'We couldn't possibly have free immigration today. Why, that would flood us with immigrants from India, and God knows where. We'd be driven down to a bare subsistence level.'

The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.

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

Anybody who was easily converted was not worth converting.

The facts never speak for themselves. They have to be interpreted in terms of some understanding of where they come from and what the relation between them is.