Economics has become increasingly an arcane branch of mathematics rather than dealing with real economic problems.

The Great Depression in the United States, far from being a sign of the inherent instability of the private enterprise system, is a testament to how much harm can be done by mistakes on the part of a few men when they wield vast power over the monetary system of the country.

There is still a tendency to regard any existing government intervention as desirable, to attribute all evils to the market, and to evaluate new proposals for government control in their ideal form, as they might work if run by able, disinterested men free from the pressure of special interest groups.

Because we live in a largely free society, we tend to forget how limited is the span of time and the part of the globe for which there has ever been anything like political freedom: the typical state of mankind is tyranny, servitude, and misery.

What does it mean to say that government might have a responsibility? Government can't have a responsibility any more than the business can. The only entities which can have responsibilities are people.

In response to a suggestion that total free trade would end in cheaper foreign products flooding the market and causing unemployment.

Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.