The Santa Claus principle liquidates itself.

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.

It is completely in accord with the etatist thinking prevalent everywhere today to consider a theory to be finally disposed of merely because the authorities who control appointments to academic positions, want to know nothing of it, and to see the criterion of truth in the approval of a government office.

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

Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping toward destruction. Therefore, everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.

The market economy-capitalism-is a social system of consumers' supremacy.