If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.

All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave spontaneously.

The consumers are asking for, they lose their office. Their task is service to the consumer. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities.

Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.

Government and state can never be perfect because they owe their raison d'être to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.

What is lacking to the underdeveloped nations is not knowledge, but capital.

The idea of Socialism is at once grandiose and simple. . .We may say, in fact, that it is one of the most ambitious creations of the human spirit, . . .so magnificent, so daring, that it has rightly aroused the greatest admiration. If we wish to save the world from barbarism we have to refute Socialism, but we cannot thrust it carelessly aside.