The stock market crashed in October 1929. But that was not the cause of what caused the Great Depression. It was, in my opinion, a very minor element of it. What happened was that from 1929 to 1933 you had a major contraction which, in my opinion, was caused primarily by the failure of the Federal Reserve System, to follow the course of action for which it was set up. It was set up to prevent exactly what happened from 1929 to 1933. But instead of preventing it, they facilitated it.

I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.

Cutting government spending and government intrusion in the economy will almost surely involve immediate gain for the many, short-term pain for the few, and long-term gain for all.

I want people to take thought about their condition and to recognize that the maintainence of a free society is a very difficult and complicated thing and it requires a self-denying ordinance of the most extreme kind. It requires a willingness to put up with temporary evils on the basis of the subtle and sophisticated understanding that if you step in to do something about them you not only may make them worse, you will spread your tenticles and get bad results elsewhere.

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

The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization.

Humility is the distinguishing virtue of the believer in freedom; arrogance, of the paternalist.