Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. And because of our efforts, we have earned our salaries ten-thousand fold.

There's no point in comparing an actual, operating system with an ideal system that doesn't exist.

Inflation is the one form of taxation that can be imposed without legislation.

Look, for example, at the obvious, immediate, practical example of illegal Mexican immigration. Now, that Mexican immigration, over the border, is a good thing. It's a good thing for the illegal immigrants. It's a good thing for the United States. It's a good thing for the citizens of the country. But, it's only good so long as its illegal....

There is no person, no theorist so reckless as he who says that the facts speak for themselves.

The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization.

The free market is not only a more efficient decision maker than even the wisest central planning body, but even more important, the free market keeps economic power widely dispersed.