The long-range sloution to high unemployment is to increase the incentive for ordinary people to save, invest, work, and employ others. We make it costly for employers to employ people; we subsidize people not to go to work We have a system that increasingly taxes work and subsidizes nonwork.

Reality ensures that the end of history will never come.

George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, "So here I am losing weight and gaining pounds.

Politicians will always spend every penny of tax raised and whatever else they can get away with.

It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.

The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war.

The fall of the Berlin Wall did more for the progress of freedom than all of the books written by myself or Friedrich Hayek or others.