On the unhampered market there prevails an irresistible tendency to employ every factor of production for the best possible satisfaction of the most urgent needs of the consumers. If the government interfered with this process, it can only impair satisfaction; it can never improve it.

The program of liberalism if condensed into a single word, would have to read: property, that is, private ownership of the means of production.

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.

The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.

All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.

The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest.

One has to recognize that science is not metaphysics, and certainly not mysticism; it can never bring us the illumination and the satisfaction experienced by one enraptured in ecstasy. Science is sobriety and clarity of conception, not intoxicated vision.