The growing role that the government has played in financing and administering schooling has led not only the enormous waste of taxpayers money but also to a far poorer educational system.

A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.

A society that aims for equality before liberty will end up with neither equality nor liberty. And a society that aims first for liberty will not end up with equality, but it will end up with a closer approach to equality than any other kind of system that has ever been developed.

The stock market and economy are two different things.

Hong Kong is the bellwether. If the Chinese stick to their agreement to let Hong Kong go its own path, then China will also go that way. If they don't, that is a very bad sign. I'm optimistic.

Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.

Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.