I react to what is necessary. I would like to eschew any formula. There are some things where the government is absolutely inevitable, which we cannot get along without comprehensive state action. But there are many things - producing consumer goods, producing a wide range of entertainment, producing a wide level of cultural activity - where the market system, which independent activity is also important, so I react pragmatically. Where the market works, I'm for that. Where the government is necessary, I'm for that. I'm deeply suspicious of somebody who says, 'I'm in favor of privatization,' or, 'I'm deeply in favor of public ownership.' I'm in favor of whatever works in the particular case.

Going back to the most ancient times, national well-being, the national prestige depended on territory. The more territory a country had, the more income reven…

I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my…

Broadly speaking, [Keynesianism means] that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own auton…

The free market punishes irresponsibility. Government rewards it.

The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining t…

No matter how deeply wedded one may be to the free enterprise system (and I, for one, am wedded for life), one has to accept the need for positive government; …