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

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

War is harmful, not only to the conquered but to the conqueror. Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created the wealth around us; labor, not the profession of arms, brings happiness. Peace builds, war destroys.

Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.

It is not the fault of the entrepreneurs that the consumers,the people, the common man,prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.

Every innovation makes its appearance as a 'luxury' of the few well-to-do. After industry has become aware of it, the luxury then becomes a 'necessity' for all.

Nobody is in a position to decree what should make a fellow man happier.