Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.

Stopping illegal immigration would mean that wages would have to rise to a level where Americans would want the jobs currently taken by illegal aliens.

If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.

Every coercive monopoly was created by government intervention into the economy: by special privileges, such as franchises or subsidies, which closed the entry of competitors into a given field, by legislative action.

One-sided national economic triumphs cannot be achieved in the increasingly interwoven global economy without precipitating calamitous consequences for everyone.

Nobody spends somebody else's money as carefully as he spends his own.