Democracy is not a good that people can enjoy without trouble. It is, on the contrary, a treasure that must be daily defended and conquered anew by strenuous effort.

Innovation is the whim of an elite before it becomes a need of the public.

Once the principle is admitted that it is the duty of the government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments.

Economic control is not merely control of a sector of human life that can be separated from the rest; it is the control of the means for all our ends.

If people do not consume their whole incomes, the non-consumed surplus can be invested, it increases the amount of capital goods available and thereby makes it possible to embark upon projects which could not be executed before.

The common man is the sovereign consumer whose buying or abstention from buying ultimately determines what should be produced and in what quantity and quality.

Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.