If one individual, or one class, can call in the aid of authority to ward off the effects of competition, it acquires a privilege and at the cost of the whole community; it can make sure of profits not altogether due to the productive services rendered, but composed in part of an actual tax upon consumers for its private profit' which tax it commonly shares with the authority that thus unjustly lent its support.

The property a man has in his own industry, is violated, whenever he is forbidden the free exercise of his faculties or talents, except insomuch as they would interfere with the rights of third parties.

To the labor of man alone Smith ascribes the power of producing values. This is an error. A more exact analysis demonstrates... that all the values are derived from the operation of labor, or rather from the industry of man, combined with the operation of those agents which nature and capital furnish him.

The theory of interest was wrapped in utter obscurity, until Hume and Smith dispelled the vapor.

The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.

Supply creates its own demand.

Political economy has only become a science since it has been confined to the results of inductive investigation.