Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt; it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country.

The more consistently Austrian School an economist is, the better a writer he will be.

The State is a gang of thieves writ large - the most immoral, grasping and unscrupulous individuals in any society.

It is easy to be conspicuously 'compassionate' if others are being forced to pay the cost.

Placing the state in charge of moral principles is equivalent to putting the proverbial fox in charge of the chicken coop.

Modern economics is a set of formal models and equations purporting to fully determine human behaviour, at least in the economic realm. And there is no way that uncertainty can be compressed into determinate mathematical models.

The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living - for the mass of the people - of any country in history.