The New Deal was going to redistribute the national income according to ideals of social and economic justice.

If you put a ten dollar bill under the rug instead of spending it, that is capital formation. It represents ten dollars' worth of something that might have been immediately consumed, but wasn't.

There is in government a living impulse to extend itself indefinitely; and there is in freedom a necessity to resist that impulse.

There are those who still think they are holding the pass against a revolution that may be coming up the road. But they are gazing in the wrong direction. The revolution is behind them. It went by in the Night of Depression, singing songs to freedom.

To the revolutionary mind the American vista must have been almost as incredible as Genghis Khan's first view of China - so rich, so soft, so unaware.

Never was it [Capitalism] imposed on life as a system, or at all. It grew out of life, not all at once but gradually, and is therefore one of the great natural designs. When it was found and identified by such men as Adam Smith, who wrote its bible, and Karl Marx, who wrote its obituary too soon, it was already working.

The idea of imposing universal peace on the world by force is a barbarian fantasy.