In economic life competition is never completely lacking, but hardly ever is it perfect.

All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.

There exists no more democratic institution than the market

The capitalist achievement does not typically consist in providing more silk stocking for queens but in bringing them within the reach of factory girls in return for a steadily decreasing amount of effort.

The ballot is stronger than bullets.

Recognition of the inevitability of comprehensive bureaucratization does not solve the problems that arise out of it.

Gentlemen, a depression is for capitalism like a good, cold douche.