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.

Reality ensures that the end of history will never come.

When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.

The price works so well, so efficiently, that we are not aware of it most of the time.

Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.

If a tax cut increases government revenues, you haven't cut taxes enough.

Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.