What precisely is this disease that causes inflation and all these other troubles? It has many popular names, such as socialism, communism, state interventionism, and welfare statism.

Socialism takes and redistributes wealth, but it is utterly incapable of creating wealth.

If we remove the hope of profit as a means to alleviate misfortune - poverty, illness, misery, disaster - we shall increase our misfortunes and make them permanent.

The more complex our economy, the more we should rely on the miraculous, self-adapting processes of men acting freely. No mind of man nor any combination of minds can even envision, let alone intelligently control, the countless human energy exchanges in a simple society, to say nothing of a complex one.

Governments resort to inflation with popular support because the people apparently are naïve enough to believe that they can have their cake and eat it, too.

The solution to this problem [welfare-statism] must take a positive form: the restoration of a faith in what free men can accomplish.

Is it not obvious that the more complex an economy, the more certainly will governmental control of productive effort exert a retarding influence?