Do the American voters know that the unprecedented improvement in their standard of living that the last hundred years brought was the result of the steady rise in the per-head quota of capital invested? Do they realize that every measure leading to capital decumulation jeopardizes their prosperity?

Spontaneous actions of individuals, aiming at nothing else than at the improvement of their own state of satisfaction, undermined the prestige of the coercive status system step by step.

Whoever wishes peace among peoples must fight statism.

Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.

Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.

The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration.

American authors or scientists are prone to consider the wealthy businessman as a barbarian, as a man exclusively intent upon making money.