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.

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.

What...can the government do to help the poor? The only answer is the libertarian answer: Get out of the way.

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

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

Gorbachev's stance contrasts admirably with the policy of the sainted Abraham Lincoln, who used massive force and mass murder to force the seceding Southern states to remain in the Union.