Nothing is so permanent as a temporary government program.

When something goes wrong, the natural tendency is to say, "By God, we need to pass a law and do something."

If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution.

Individual price and wage changes will not be prevented. In the main, price changes will simply be concealed by taking the form of changes in discounts, service, and quality, and wage changes, in overtime, perquisites and so on…. But to whatever extent the freeze is enforced, it will do harm by distorting relative prices.

Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.

Governments never learn. Only people learn.

I believe that the monetary stability is an absolutely critical element in the satisfactory operation of a system.