“The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.”

Freedom really means the freedom to make mistakes.

None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.

The criterion of truth is that it works even if nobody is prepared to acknowledge it.

Under capitalism everybody provides for their own needs by serving others.

Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

Under capitalism everybody is the architect of his own fortune.

They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.

The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men.

Freedom really means the freedom to make mistakes.

Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.

The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.

This is what capitalism, the much abused profit system, has brought about and brings about daily anew. Yet, most present-day governments and political parties are eager to destroy this system.

The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.

The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped.

There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population.

A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.