The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.

Pick at random any three letters from the alphabet, put them in any order, and you will have an acronym designating a federal agency we can do without.

What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.

In the US, the problem is primary and secondary education. We've had such an increase in inequality because a quarter of American kids don't finish high school!

Whenever we depart from voluntary cooperation and try to do good by using force, the bad moral value of force triumphs over good intentions.

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.

Even the most ardent environmentalist doesn't really want to stop pollution. If he thinks about it, and doesn't just talk about it, he wants to have the right amount of pollution. We can't really afford to eliminate it - not without abandoning all the benefits of technology that we not only enjoy but on which we depend.