Monetary inflation not only raises prices and destroys the value of the currency unit; it also acts as a giant system of expropriation.

Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.

If we look around, then, at the crucial problem areas of our society - the areas of crisis and failure - we find in each and every case a “red thread” marking and uniting them all: the thread of government. In every one of these cases, government either has totally run or heavily influenced the activity.

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.

John Stuart was the quintessence of soft rather than hardcore, a woolly minded man of mush in striking contrast to his steel-edged father.

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.

The libertarian creed...offers the fulfillment of the best of the American past along with the promise of a far better future. Libertarians are squarely in the great classical liberal tradition that built the United States and bestowed on us the American heritage of individual liberty, a peaceful foreign policy, minimal government, and a free-market economy.