When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers ballot, held daily in the marketplace.

The attainment of the economic aims of man presupposes peace.

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.

The Welfare State is merely a method for transforming the market economy step by step into socialism.

The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality. Their attitudes result either in profit or in loss for the enterpriser. They make poor men rich and rich men poor. They are no easy bosses.

The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration.

It is untrue that some are poor because others are rich. If an order of society in which incomes were equal replaced the capitalist order, everyone would become poorer.