The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.

• The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.
• The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
• I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
• Inflation is taxation without legislation.
• Every friend of freedom must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.
• The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
• A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
• Underlying most arguments against the free market is a lack of belief in freedom itself.
• History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
• Concentrated power is not rendered harmless by the good intentions of those who create it.