Inflation is taxation without legislation.

The countries that have risen and separated out as a result of the collapse of the Soviet Union are, on the whole, following freer economic policies. Most of these states have freer government and less restrictions on trade.

The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

I start ... from a belief in individual freedom and that derives fundamentally from a belief in the limitations of our knowledge, from a belief ... that nobody can be sure that what he believes is right, is really right ... I'm an imperfect human being who cannot be certain of anything, so what position ... involved the least intolerance on my part? ... The most attractive position ... is putting individual freedom first.

The only relevant test of the validity of a hypothesis is comparison of prediction with experience.

The same thing will happen in China that happened in Chile. Political freedom will ultimately break out of its shackles. Tiananmen Square was only the first episode. It is headed for a series of Tiananmen Squares. It cannot continue to develop privately and at the same time maintain its authoritarian character politically. It is headed for a clash. Sooner or later, one or the other will give.