The Preservation Of Liberty, Not The Promotion

If You Really Want To Engage In Policy Activity, Don't Make That Your Vocation. Make It Your Avocation. Get A Job. Get A Secure Base Of Income. Otherwise, You're Going To Get Corrupted And Destroyed.

The Power To Determine The Quantity Of Money... Is Too Important, Too Pervasive, To Be Exercised By A Few People, However Public-spirited, If There Is Any Feasible Alternative. There Is No Need For Such Arbitrary Power... Any System Which Gives So Much Power And So Much Discretion To A Few Men, [so] That Mistakes - Excusable Or Not - Can Have Such Far Reaching Effects, Is A Bad System. It Is A Bad System To Believers In Freedom Just Because It Gives A Few Men Such Power Without Any Effective Check By The Body Politic - This Is The Key Political Argument Against An Independent Central Bank.

There Is One And Only One Responsibility Of Business: To Use Its Resources And Engage In Activities Designed To Increase Its Profits So Long As It Stays Within The Rules Of The Game.

Every Businessman Is In Favor Of Freedom For Everybody Else, But When It Comes To Himself That's A Different Question. He's Always The Special Case. He Ought To Get Special Privileges From The Government, A Tariff, This, That And The Other Thing.

Doing Good With Other People's Money Has Two Basic Flaws. In The First Place, You Never Spend Anybody Else's Money As Carefully As You Spend Your Own. So A Large Fraction Of That Money Is Inevitably Wasted. In The Second Place, And Equally Important, You Cannot Do Good With Other People's Money Unless You First Get The Money Away From Them. So That Force - Sending A Policeman To Take The Money From Somebody's Pocket - Is Fundamentally At The Basis Of The Philosophy Of The Welfare State.