Historical knowledge is indispensable for those who want to build a better world

In capitalist enterprise there is no secure income and no security of wealth.

The policies advocated by the welfare school remove the incentive to saving on the part of private citizens.

The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.

Depression is the aftermath of credit expansion.

The main characteristic of collectivism is that it does not take notice of the individual's will and moral self-determination. In the light of its philosophy the individual is born into a collective and it is "natural" and proper for him to behave as members of this collective are expected to behave. Expected by whom? Of course, by those individuals to whom, by the mysterious decrees of some mysterious agency, the task of determining the collective will and directing the actions of the collective has been entrusted.

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