It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.

The whole of mankind's progress has had to be achieved against the resistance and opposition of the state and its power of coercion.

All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.

It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective.

No increase in the welfare of the member of society can result from the availability of an additional quantity of money.

The characteristic feature of modern capitalism is mass production of goods destined for consumption by the masses. The result is a tendency towards a continuous improvement in the average standard of living, a progressing enrichment of the many.

Welfare policies never attain those - allegedly beneficial - ends which the government and the self-styled progressives who advocated them wanted to attain, but - on the contrary - bring about a state of affairs which - from the very point of view of the government and its supporters - is even more unsatisfactory than the previous state of affairs they wanted to 'improve.'