We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time.

Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion - the technique of the army and of the modern totalitarian state. The other is voluntary cooperation of individuals - the technique of the marketplace.

We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time.

Why is it that private insurance companies are not in trouble because people are getting older? Aren't they subject to the same demographics? The difference is that they've accumulated a fund, not a pay-in, pay-out system.

The Internet is the most effective instrument we have for globalization.

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.

You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.