Depressions and mass unemployment are not caused by the free market but by government interference in the economy.

Big business depends entirely on the patronage of those who buy its products: the biggest enterprises loses its power and its influence when it loses its customers.

The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.

Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.

This, then, is freedom in the external life of man-that he is independent of the arbitrary power of his fellows.

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

Government is essentially the negation of liberty.