In an unmolested market economy - one where all dealings are consensual - the 'allocation' of wealth and income is the result of transactions.

Today, the people who would use guns to violate rights have little trouble getting them, while those who would use them to defend their rights have increasing trouble getting them. ... Gun control is in effect a subsidy for criminals.

Among other grand achievements, F. A. Hayek had a remarkable career pointing out the flaws in collectivism. One of his keenest insights was that, paradoxically, any collectivist system necessarily depends on one individual (or small group) to make key social and economic decisions. In contrast, a system based on individualism takes advantage of the aggregate, or 'collective,' information of the whole society; through his actions each participant contributes his own particular, if incomplete, knowledge-information that could never be tapped by the individual at the head of a collectivist state.

The draft is a monstrous violation of individual liberty, and even a good motive cannot make it otherwise. In a free society no one should be compelled to take up arms, or be forced to kill or risk being killed... But who can blame prospective volunteers from doubting that there is a threat from Iraq? The Bush administration has yet to make a persuasive argument to that effect.

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

When government 'creates jobs' by taking money from the private sector and 'investing' in favored projects, it is not truly productive activity. Rather, the government has preempted the economic process, forbidding it to serve consumers so that it can instead serve the objectives of politicians and bureaucrats.

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.