So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.

When something goes wrong, the natural tendency is to say, "By God, we need to pass a law and do something."

Socialism, in the traditional sense, meant government ownership and operation of the means of production. Outside of North Korea and a couple of other spots, no one in the world today would define socialism that way. That will never come back.

The invisible hand in politics operates in the opposite direction to the invisible hand in the market.

Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.

Government is a way by which every individual believes he can live at the expense of everybody else.

The power to do good is also the power to do harm.