You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.

Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.

Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.

The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.

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.

George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, "So here I am losing weight and gaining pounds.

Unfortunately, unanimity is not always feasible.