Servile labour disappeared because it could not stand the competition of free labour; its un-profitability sealed its doom in the market economy.

The final outcome of the credit expansion is general impoverishment.

The attainment of the economic aims of man presupposes peace.

What generates war is the economic philosophy of nationalism: embargoes, trade and foreign exchange controls, monetary devaluation, etc. The philosophy of protectionism is a philosophy of war.

Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things.

These people talk of a "middle-of-the-road" policy. What they do not see is that the isolated interference, which means the interference with only one small part of the economic system, brings about a situation which the government itself — and the people who are asking for government interference — find worse than the conditions they wish to abolish: the people who are asking for rent control are very angry when they discover there is a shortage of apartments and a shortage of housing.

The tow pillars of democratic government are the primacy of the law and the budget.