Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom. Even though the men who wield this power initially be of good will and even though they be not corrupted by the power they exercise, the power will both attract and form men of a different stamp.

The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.

The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do.

The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization.

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.

So long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.

The stock market and economy are two different things.