Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with.

Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.

Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.

Political freedom means the absence of coercion of a man by his fellow men. The fundamental threat to freedom is power to coerce, be it in the hands of a monarch, a dictator, an oligarchy, or a momentary majority. The preservation of freedom requires the elimination of such concentration of power to the fullest possible extent and the dispersal and distribution of whatever power cannot be eliminated — a system of checks and balances.

You must distinguish sharply between being pro free enterprise and being pro business.

I think in some ways it would make more sense to have as a poverty level a relative concept and say, the level of poverty is that level of income or that level of consumption below which 10 percent of the people now are.

I cannot disagree with you that having something like 500 economists is extremely unhealthy. As you say, it is not conducive to independent, objective research. You and I know there has been censorship of the material published. Equally important, the location of the economists in the Federal Reserve has had a significant influence on the kind of research they do, biasing that research toward noncontroversial technical papers on method as opposed to substantive papers on policy and results