If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.

In many fields of the administration of interventionist measures, favoritism simply cannot be avoided.

For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they are provided for.

Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.

Without speculation there can be no economic activity reaching beyond the immediate present.

What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.

Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.