We think of prices as simply the notation of how much we must pay for things. But the price system accomplishes far more than that. Hundreds of millions of people buying and selling, and abstaining from buying and selling, generate a system of signals - prices to producers and consumers about relative scarcities and demand. Through this system, consumers can convey to producers their subjective priorities and entrepreneurs can invest accordingly.

We must acknowledge, of course, that what looks like failure to us Americans outside the privileged elite may not actually be failure for our overlords.

The truly free market is the worker's best friend.

Freedom is never more in peril than when politicians feel the pressure to 'do something.'

Some conservatives are surprised to find people on the Left supporting the war in Afghanistan. It's not surprising at all...It is hard for the government to prosecute a war and not expand...Conservatives may think they can support war and oppose the expansion of the state, but that is like trying to square the circle. What makes them think they can contain the expansion?

Government interference with the economic process represents a substitution of political for consumer objectives.

The state is an organization of mere mortals who, by one dubious method or another, have been allowed to don the mantle of political legitimacy and to command obedience on pain of imprisonment even of those who never consented to the preposterous arrangement.