Depression is the aftermath of credit expansion.

The sharper the competition, the better it serves its social function to improve economic production.

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.

Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.

Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.

The concept of a 'just' or 'fair' price is devoid of any scientific meaning; it is a disguise for wishes, a striving for a state of affairs different from reality.

Inflation is essentially antidemocratic.