Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.

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.

Spontaneous actions of individuals, aiming at nothing else than at the improvement of their own state of satisfaction, undermined the prestige of the coercive status system step by step.

They [intellectuals] coined most of the slogans that guided the butcheries of Bolshevism, Fascism, and Nazism. Intellectuals extolling the delights of murder, writers advocating censorship, philosophers judging the merits of thinkers and authors, not according to the value of their contributions but according to their achievements on battlefields, are the spiritual leaders of our age of perpetual strife.

The supremacy of public opinion determines not only the singular role that economics occupies in the complex of thought and knowledge. It determines the whole process of human history.

The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.

In spite of the anticapitalistic policies of all governments and of almost all political parties, the capitalist mode of production