Congress can raise taxes because it can persuade a sizable fraction of the populace that somebody else will pay

Inflation is always and everywhere a monetary phenomenon.

The only relevant test of the validity of a hypothesis is comparison of prediction with experience.

I think that nothing is so important for freedom as recognizing in the law each individual’s natural right to property, and giving individuals a sense that they own something that they’re responsible for, that they have control over, and that they can dispose of.

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

The big issue is whether the United States will succeed in its venture of reshaping the Middle East. It is not clear to me that using military force is the way to do it. We should not have gone into Iraq. But we have.

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.