The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.

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.

Perhaps there are somewhere in the infinite universe beings whose minds outrank our minds to the same extent as our minds surpass those of the insects. Perhaps there will once somewhere live beings who will look upon us with the same condescension as we look upon amoebae.

Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.

Our whole civilization rests on the fact that men have always succeeded in beating off the attack of the re-distributors.

The market and its inescapable law are supreme.