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.

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 costs of government are bound to be much higher than those of the free market. . .The State cannot calculate well and therefore cannot gauge its costs accurately.

Only the State legally obtains its revenue by coercion.

I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own.

The ingenious slogan that the public debt does not matter because 'we owe it to ourselves' is clearly absurd.