If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.

The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

No matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor. The spending of the rich gives employment to the poor. But the saving of the rich, and their investment of these savings in the means of production, gives just as much employment, and in addition makes that employment constantly more productive and more highly paid, while it also constantly increases and cheapens the production of necessities and amenities for the masses.

We cannot distribute more wealth than is created. We cannot in the long run pay labor as a whole more than it produces.

Economics is haunted by more fallacies than any other study known to man

The more things a government undertakes to do, the fewer things it can do completely. When the government tries to do everything it must do everything badly.

A man who is good from docility, and not from stern self-control, has no character.