If you have technological progress, that will encourage more capitalist system. On the other hand, if you don't, if things are stalled, you end up with much more of a zero sum type thing, where there's no progress and basically everybody's gain is somebody else's loss.

I'm skeptical of a lot of what falls under the rubric of education.... People are on these tracks. They are getting these credentials and it's very unclear how viable they are in many cases.

Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women - two constituencies that are notoriously tough for libertarians - have rendered the notion of "capitalist democracy" into an oxymoron.

What important truth do very few people agree with you on?

I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

Twitter is hard to evaluate. They have a lot of potential. It's a horribly mismanaged company — probably a lot of pot-smoking going on there. But it's such a solid franchise it may even work with all that.