Mr. David J. Theroux
Founder and President
The Independent Institute
100 Swan Way
Oakland, CA 94621

Dear Mr. Theroux:

I am very pleased to take part in the Independent Institute’s 25th Anniversary Gala for Liberty even though my age prevents me from traveling to California tonight.

During times of uncertainty and self-doubt, such as ours, liberty can be preserved only through clear thinking, courageous action, and dedicated perseverance, characters fully demonstrated by all of the three honorees. I congratulate and thank them for their hard work.

I also want to thank the Independent Institute because honoring these three outstanding individuals will inspire more people all over the world to join the fight for a free enterprise economy and open society.


Ronald H. Coase