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

Do the American voters know that the unprecedented improvement in their standard of living that the last hundred years brought was the result of the steady rise in the per-head quota of capital invested? Do they realize that every measure leading to capital decumulation jeopardizes their prosperity?

In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.

Against what is stupid, nonsensical, erroneous, and evil, [classical] liberalism fights with the weapons of the mind, and not with brute force and repression.

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.

Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.