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.

People do not cooperate under the division of labor because they love or should love one another. They cooperate because this best serves their own interests. Neither love nor charity nor any other sympathetic sentiments but rightly understood selfishness is what originally impelled man to adjust himself to the requirements of society, to respect the rights and freedoms of his fellow men and to substitute peaceful collaboration for enmity and conflict.

Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things.

Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.

The idea that political freedom can be preserved in the absence of economic freedom, and vice versa, is an illusion. Political freedom is the corollary of economic freedom.

The word "Capitalism" expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas.

The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.