The socialist system, however, forbids this fundamental freedom to choose one's own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production.

Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the means of production.

There can be no freedom in art and literature where the government determines who shall create them.

The situation of having to belong to a state to which one does not wish is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest.

The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.

The bureaucrat is not free to aim at improvement. He is bound to obey rules and regulations established by a superior body. He has no right to embark upon innovations if his superiors do not approve of them. His duty and his virtue is to be obedient.

Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.