[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics

Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.

The financial history of the last century shows a steady increase in the amount of public indebtedness. Nobody believes that the states will eternally drag the burden of these interest payments. It is obvious that sooner or later all these debts will be liquidated in some way or other, but certainly not by payment of interest and principal according to the terms of the contract.

As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.

War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods.

In public administration there is no connection between revenue and expenditure.

Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.