The State, of course, is absolutely indispensable to the preservation of law and order, and the promotion of peace and social cooperation. What is unnecessary and evil, what abridges the liberty and threatens the true welfare of the individual, is the State that has usurped excessive powers and grown beyond its legitimate function - the super-State, the socialist State, the redistributive State, in brief, the ironically misnamed 'Welfare State.'

Government can't give us anything without depriving us of something else.

Inflation is a form of tax, a tax that we all collectively must pay.

One of the worst features of all the plans for sharing wealth and equalizing or guaranteeing incomes is that they lose sight of the conditions and institution s that are necessary to create wealth and income in the first place.

Everywhere the means is erected into the end, and the end itself is forgotten.

Need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.