The Soviet Experience Was Much Worse Than

The Important Issue Is Not How Much Inequality There Is But How Much Opportunity There Is For Individuals To Get Out Of The Bottom Classes And Into The Top. If There Is Enough Movement Upward, People Will Accept The Efficiency Of The Markets. If You Have Opportunity, There Is A Great Tolerance For Inequality. That Has Been The Saving Grace Of The American System.

If A Country Is An Attractive Place For Foreigners To Invest Their Funds, Then That Country Will Have A Relatively High Exchange Rate. If It's An Unattractive Place, It Will Have A Relatively Low Exchange Rate. Those Are The Fundamentals That Determine The Exchange Rate In A Floating Exchange Rate System.

I Think That The Internet Is Going To Be One Of The Major Forces For Reducing The Role Of Government.

What Most People Really Object To When They Object To A Free Market Is That It Is So Hard For Them To Shape It To Their Own Will. The Market Gives People What The People Want Instead Of What Other People Think They Ought To Want. At The Bottom Of Many Criticisms Of The Market Economy Is Really Lack Of Belief In Freedom Itself.

It Is Most Attractive About The Us To People And Countries With Wealth Is That It Can Provide Security, Insurance Really, Against Political Instability. Nobody Is Afraid That The Money They Place In The Us Is At Risk Of Expropriation Or Of In Some Other Way Being Taken Away. For This Safety, The Wealth Holders Of The World Are Willing To Accept A Lower Rate Of Return.