A wealthy man can preserve his wealth only by continuing to serve the consumers in the most efficient way.

Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.

As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.

In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.

Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

War prosperity is like the prosperity that an earthquake or a plague brings...but no one has for those reasons yet sought to celebrate earthquakes and cholera as stimulators of the productive forces in the general interest.

There is no western, capitalistic country in which the conditions of the masses have not improved in an unprecedented way.