Political Freedom Means The Absence Of Coercion

The Central Banks Cannot Control Interest Rates. That's A Mistake. They Can Control A Particular Rate, Such As The Federal Funds Rate, If They Want To, But They Can't Control Interest Rates.

The Great Virtue Of A Free Market System Is That It Does Not Care What Color People Are; It Does Not Care What Their Religion Is; It Only Cares Whether They Can Produce Something You Want To Buy. It Is The Most Effective System We Have Discovered To Enable People Who Hate One Another To Deal With One Another And Help One Another.

Indeed, A Major Source Of Objection To A Free Economy Is Precisely That It... Gives People What They Want Instead Of What A Particular Group Thinks They Ought To Want. Underlying Most Arguments Against The Free Market Is A Lack Of Belief In Freedom Itself.

No Central Banker Would Disagree With The Proposition That Inflation Is Primarily A Monetary Phenomenon. Not One Of Them Will Disagree That Every Inflation Has Been Accompanied By A Rapid Increase In The Quantity Of Money And Every Deflation By A Decline In The Quantity Of Money.

Whenever You Try To Do Good With Someone Else's Money, You Are Committed To Using Force. How Can You Do Good With Somebody Else's Money, Unless You First Take It Away From Them? The Only Way You Can Take It Away From Them Is The Threat Of Force: You Have A Policeman, Tax Collector, Who Comes And Takes It From Them.