Notwithstanding all the passionate fulminations of the spokesmen of governments, the inevitable consequences of inflationism and expansionism...are coming to pass. And then, very late indeed, even simple people will discover that Keynes did not teach us how to perform the 'miracle...of turning a stone into bread,' but the not at all miraculous procedure of eating the seed corn.

The final outcome of the credit expansion is general impoverishment.

The distinctive principle of Western social philosophy is individualism.

The market system is the basis of our civilization. Its only alternative is the Führer principle.

A famous, very often quoted phrase says: "That government is best, which governs least." I do not believe this to be a correct description of of the functions of a good government. Government ought to do all the things for which it is needed and for which it is established. Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. These are the functions of government within a free system, within the system of the market economy.

What makes small business develop into big business is not spending, but saving and capital accumulation.

Every extension of the functions and power of the State beyond its primary duty of maintaining peace and justice should be scrutinized with jealous vigilance.