The competition of social power with State power is always disadvantaged, since the State can arrange the terms of competition to suit itself, even to the point of outlawing any exercise of social power whatever in the premises; in other words, giving itself a monopoly.

Another strange notion pervading whole peoples is that the State has money of its own; and nowhere is this absurdity more firmly fixed than in America. The State has no money. It produces nothing. It existence is purely parasitic, maintained by taxation; that is to say, by forced levies on the production of others. 'Government money,' of which one hears so much nowadays, does not exist; there is no such thing.

Like Prince von Bismarck in diplomacy, I have no secrets.

The civilization of a country consists in the quality of life that is lived there, and this quality shows plainest in the things that people choose to talk about when they talk together, and in the way they choose to talk about them.

It is unfortunately none too well understood that, just as the State has no money of its own, so it has no power of its own.

The positive testimony of history is that the State invariably had its origin in conquest and confiscation. No primitive State known to history originated in any other manner.

Americans have a strange notion that the ordinary laws of economics do not apply to them. So doubtless they will think they are prosperous if the boom starts, and that deficits and indebtedness are merely signs of how prosperous they are.