But on the other hand, if you come under circumstances where each person is entitled to a pro-rata share of the pot, to take an extreme example, or even to a low level of the pie, than the effect of that situation is that free immigration, would mean a reduction of everybody to the same, uniform level. Of course, I'm exaggerating, it wouldn't go quite that far, but it would go in that direction. And it is that perception, that leads people to adopt what at first seems like inconsistent values.

The euro is good for Europe. But only if there is flexibility all around.

Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.

No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.

Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.

Political freedom means the absence of coercion of a man by his fellow men.

The problem in this world is to avoid concentration of power - we must have a dispersion of power.