Socialism, in the traditional sense, meant government ownership and operation of the means of production. Outside of North Korea and a couple of other spots, no one in the world today would define socialism that way. That will never come back.

John Lott documents how far 'politically correct' vested interests are willing to go to denigrate anyone who dares disagree with them. Lott has done us all a service by his thorough, thoughtful scholarly approach to a highly controversial issue.

I think a major reason why intellectuals tend to move towards collectivism is that the collectivist answer is a simple one. If there's something wrong, pass a law and do something about it.

The future of private enterprise capitalism is also the future of a free society. There is no possibility of having a politically free society unless the major part of its economic resources are operated under a capitalistic private enterprise system.

China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.

The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.

As a nation, we have been responsible for the murder of literally hundreds of thousands of people at home and abroad by fighting a war that should never have been started and can be won, if at all, only by converting the United States into a police state.