"When the law interferes with people's pursuit of their own values, they will try to find a way around. They will evade the law, they will break the law, or they will leave the country. Few of us believe in a moral code that justifies forcing people to give up much of what they produce to finance payments to persons they do not know for purposes they may not approve of. When the law contradicts what most people regard as moral and proper, they will break the law—whether the law is enacted in the name of a noble ideal such as equality or in the naked interest of one group at the expense of another. Only fear of punishment, not a sense of justice and morality, will lead people to obey the law."

“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.”

“The Great Depression in the United States, far from being a sign of the inherent instability of the private enterprise system, is a testament to how much harm can be done by mistakes on the part of a few men when they wield vast power over the monetary system of a country.”