"In the past century a myth has grown up that free market capitalism—equality of opportunity as we have interpreted that term—increases such inequalities, that it is a system under which the rich exploit the poor. Nothing could be further from the truth. Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate."

“There is an invisible hand in politics that operates in the opposite direction to the invisible hand in the market.”

“Will we read next that government control of prices has created a shortage of sand in the Sahara?”

“President Kennedy said, ‘Ask not what your country can do for you —ask what you can do for your country.’… Neither half of that statement expresses a relation between the citizen and his government that is worthy of the ideals of free men in a free society. ‘What your country can do for you’ implies that the government is the patron, the citizen the ward. ‘What you can do for your country’ assumes that the government is the master, the citizen the servant.”

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.”

“Make politics an avocation, not a vocation.”

“I think it is only because capitalism has proved so enormously more efficient than alternative methods that it has survived at all. I'm not sure capitalism is the right word. There is a sense in which every society is capitalist. The Soviet Union was capitalist, but it was state capitalism. Latin American societies in the past have been capitalist, but it has been oligarchic capitalism. So what we really need to talk about is not capitalism but free market or competitive capitalism which is the system that we would like to have adopted, not just capitalism.”