When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union - like public housing in the United States - look decrepit within a year or two of their construction.

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Since the 1930s the technique of buying votes with the voters' own money has been expanded to an extent undreamed of by earlier politicians.

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You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.

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The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

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If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution.

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Underlying most arguments against the free market is a lack of belief in freedom itself.

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Inflation is the one form of taxation that can be imposed without legislation.

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Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property. When government-- in pursuit of good intentions tries to rearrange the economy, legislate morality, or help special interests, the cost come in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player.

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Nothing is so permanent as a temporary government program.

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

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