"Free markets" is a very general term. There are all sorts of problems that will emerge. Free markets work best when the transaction between two individuals affects only those individuals. Most often, a transaction between you and me affects a third party. That is the source of all problems for government. That is the source of all pollution problems, of the inequality problem. This reality ensures that the end of history will never come.

You never have real changes unless you have a time of crisis.

To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.

The excuse for the destruction of liberty is always the plea of necessary ' that there is no alternative

There are severe limits to the good that the government can do for the economy, but there are almost no limits to the harm it can do.

A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.

The Great Depression in the United States was caused - I won't say caused, was enormously intensified and made far worse than it would have been by bad monetary policy.