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The Big Issue Is Whether The United States Will Succeed In Its Venture Of Reshaping The Middle East. It Is Not Clear To Me That Using Military Force Is The Way To Do It. We Should Not Have Gone Into Iraq. But We Have.

I Think There Is Universal Agreement Within The Economics Profession That The Decline - The Sharp Decline In The Quantity Of Money Played A Very Major Role In Producing The Great Depression.

The Important Issue Is Not How Much Inequality There Is But How Much Opportunity There Is For Individuals To Get Out Of The Bottom Classes And Into The Top. If There Is Enough Movement Upward, People Will Accept The Efficiency Of The Markets. If You Have Opportunity, There Is A Great Tolerance For Inequality. That Has Been The Saving Grace Of The American System.

If The Government Is To Try And Ban Private Consumption Of Alcohol And Tobacco, It Must Surely Ban Such Activities As Hang-gliding, Skiing, Rock-climbing And So On. Where Should It Stop? Rugby? American Football? Ice Hockey? Insofar As The Government Has Information Not Generally Available About The Merits Or Demerits Of The Items We Ingest Or The Activities We Engage In, Let It Give Us The Information. But Let It Leave Us Free To Choose What Chances We Want To Take With Our Own Lives.

Freedom Is A Rare And Delicate Plant. Our Minds Tell Us, And History Confirms, That The Great Threat To Freedom Is The Concentration Of Power.