What kind of society isn't structured on greed?

The combination of economic and political power in the same hands is a sure recipe for tyranny.

George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, "So here I am losing weight and gaining pounds.

Now that I'm 60, every morning I look in the mirror and say, "I don't know who you are, stranger, but I'm gonna shave you anyway".

A real gold standard is thoroughly consistent with [classical] liberal principles and I, for one, am entirely in favor of measures promoting its development.

The important issue is not how much inequality there is but how much opportunity there is for individuals to get out of the bottom classes and into the top. If there is enough movement upward, people will accept the efficiency of the markets. If you have opportunity, there is a great tolerance for inequality. That has been the saving grace of the American system.

The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.