Schooling after the second grade plays only a minor role in creating or reducing gaps.

The world got side-tracked from development issues during the post-9/11 crisis period.

Educators have yet to realize how deeply the industrial system is dependent upon them.

Foreign policy is conducted for the convenience and enjoyment of people in Washington.

Agriculture is one economic activity that does not obey the laws of demand and supply.

The avoidance of taxes is the only intellectual pursuit that still carries any reward.

There is nothing so disastrous as a rational investment policy in an irrational world.

The importance of money flows from it being a link between the present and the future.

Every single stage of reform becomes more difficult because you use political capital.

Growth is not an objective in itself; we should be concerned with standards of living.

Nothing fails like success because we don't learn from it. We learn only from failure.

There is no such thing as economics, only social science applied to economic problems.

Major investment decisions have become too important to be left to the private sector.

The point is to make the pie grow faster and distribute the new growth more equitably.

We shall never change our political leaders until we change the people who elect them.

If you cannot state a proposition clearly and unambiguously, you do not understand it.

When you start paying people to be poor, you wind up with an awful lot of poor people.

You must distinguish sharply between being pro free enterprise and being pro business.

The price works so well, so efficiently, that we are not aware of it most of the time.

The more consistently Austrian School an economist is, the better a writer he will be.

There's nothing magic about spending on tanks and bombs rather than roads and bridges.

Forsake search for needles that are so very small in haystacks that are so very large.

I feel I'm doing God's work switching people from group plans to individual insurance.

Entrepreneurs, by their nature, see not only problems but solutions and opportunities.

Honesty is the best policy; but he who is governed by that maxim is not an honest man.

The key to learning is feedback. It is nearly impossible to learn anything without it.

It’s amazing how much panic one honest man can spread among a multitude of hypocrites.

I'm so old that I can remember when most of the people promoting race hate were white.

The freedom of America is the freedom to live your own life and take your own chances.

Trade-offs have been with us ever since the late unpleasantness in the Garden of Eden.

The dog commends himself to our favor by affording play to our propensity for mastery.

There's lots and lots of guys out there. The question is trying to find the right one.

I'm a free-market economist from years and years back, and I've never veered from that.

Resenting the obtuseness of others is not good ground for shooting oneself in the foot.

The central bank needs to be able to make policy without short term political concerns.

The demand for money is regulated entirely by its value, and its value by its quantity.

Politicians will pander to special-interest groups eager to gain at the public expense.

Ask five economists and you'll get five different answers - six if one went to Harvard.

Great cities are not static, they constantly change and take the world along with them.

India needs three things for its energy sector: investment, investment, and investment.

... that order generated without design can far outstrip plans men consciously contrive

What immigration really does is redistribute wealth away from workers toward employers.

The main insight learned from interdisciplinary studies is the return to specialization

The foundation of economic development is the acquisition of more productive knowledge.

If there is one thing fundamental to the life of the spirit it is the absence of force.

Third party politics, at least since La Follette, has always had an element of romance.

No intelligence system can predict what a government will do if it doesn't know itself.

It would not be foolish to contemplate the possibility of a far greater progress still.

Development is about transforming the lives of people, not just transforming economies.

The reason that the invisible hand often seems invisible is that it is often not there.

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