If you have free immigration, in the way we had it before 1914, everybody benefited. The people who were here benefited. The people who came benefited. Because nobody would come unless he, or his family, thought he would do better here than he would elsewhere. And, the new immigrants provided additional resources, provided additional possibilities for the people already here. So everybody can mutually benefit.

Only a crisis, actual or perceived, produces real change.

The great danger to the consumer is the monopoly -whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who is eager to sell to him. Alternative sources of supply protect the consumer far more effectively than all the Ralph Naders of the world.

I think that the Internet is going to be one of the major forces for reducing the role of government.

I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior.

To really understand something you've got to reduce it to its principles.

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