The distinctive principle of Western social philosophy is individualism.

Every restriction of trade creates vested interests that are from then on opposed to its removal.

A higher standard of living also brings about a higher standard of culture and civilization.

Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state.

In many fields of the administration of interventionist measures, favoritism simply cannot be avoided.

In order to succeed in business a man does not need a degree from a school of business administration. These schools train the subalterns for routine jobs. They certainly do not train entrepreneurs.

The interventionists do not approach the study of economic matters with scientific disinterestedness. Most of them are driven by an envious resentment against those whose incomes are larger than their own. This bias makes it impossible for them to see things as they really are. For them the main thing is not to improve the conditions of the masses, but to harm the entrepreneurs and capitalists even if this policy victimizes the immense majority of the people.