The true test of any scholar's work is not what his contemporaries say, but what happens to his work in the next 25 or 50 years.

Why is it that private insurance companies are not in trouble because people are getting older? Aren't they subject to the same demographics? The difference is that they've accumulated a fund, not a pay-in, pay-out system.

Now that I'm 60, every morning I look in the mirror and say, "I don't know who you are, stranger, but I'm gonna shave you anyway".

People who intend only to seek their own benefit are “led by an invisible hand to serve a public interest which was no part of” their intention. I say that there is a reverse invisible hand: People who intend to serve only the public interest are led by an invisible hand to serve private interests which was no part of their intention.

What you have as a result of past policies is that German entrepreneurs go outside of Germany for many of their activities. They are investing abroad instead of at home because there isn't the openness, fluidity and opportunity they find outside their borders.

[T]he burden of government is not measured by how much it taxes, but by how much it spends.

The problem in this world is to avoid concentration of power - we must have a dispersion of power.