The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.

It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.

The "progressives" who today masquerade as "liberals" may rant against "fascism"; yet it is their policy that paves the way for Hitlerism. Nothing could have been more helpful to the success of the National-Socialist (Nazi) movement than the methods used by the "progressives," denouncing Nazism as a party serving the interests of "capital." The German workers knew this tactic too well to be deceived by it again.

If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.

All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of affairs which - from the point of view of their authors and advocates valuations - is less desirable than the previous state of affairs which they were designed to alter.

The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.

The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.