I do not believe that the solution to our problem is simply to elect the right people. The important thing is to establish a political climate of opinion which will make it politically profitable for the wrong people to do the right thing. Unless it is politically profitable for the wrong people to do the right thing, the right people will not do the right thing either, or it they try, they will shortly be out of office.

I would say that in this world, the greatest source of inequality has been special privileges granted by government.

The Soviet experience was much worse than experts in the West had thought. That discovery had a tremendous impact both on the intellectual community and on the public at large.

I do not believe that the solution to our problem is simply to elect the right people. The important thing is to establish a political climate of opinion which will make it politically profitable for the wrong people to do the right thing. Unless it is politically profitable for the wrong people to do the right thing, the right people will not do the right thing either, or it they try, they will shortly be out of office.

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

When you argue for free markets, you are arguing against the trend.

Inflation is a monetary phenomenon. It is made by or stopped by the central bank.