Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.

The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: how to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental restrictions that we ourselves have set up.

Germany's problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark.

A society based on the freedom to choose is better than a society based on the principles of socialism, communism and coercion.

So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.

I believe that the monetary stability is an absolutely critical element in the satisfactory operation of a system.

Nobody spends somebody else's money as carefully as he spends his own.