Society doesn't have values. People have values.

My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers geared to provide a steady rate of growth in the quantity of money. Fortunately for me personally, and for a select group of fellow economists, that conclusion has had no practical impact… else there would have been no Central Bank of Sweden to have established the award [Nobel Prize] I am honoured to receive.

So long as large sums of money are involved - and they are bound to be if drugs are illegal - it is literally impossible to stop the traffic, or even to make a serious reduction in its scope.

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.

If you pay people not to work and tax them when they do, don't be surprised if you get unemployment.

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

The true test of any scholar's work is not what his contemporaries say, but what happens to his work in the next 25 or 50 years.