...theories should be judged by their ability to predict events rather than by the realism of their assumptions.

Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.

Society doesn't have values. People have values.

The preservation of liberty, not the promotion of efficiency, is the primary justification for private property. Efficiency is a happy, though not accidental, by-product - and a most important by-product because liberty could not have survived if it had not also produced affluence.

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

Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

There is likely to be a lag between the need for action and government ["an individual's" or "a team's"] recognition of the need; a further lag between recognition of the need for action and the taking of action; and a still further lag between the action and its effects