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.

There is no such thing as a just and fair method of exercising the tremendous power that interventionism puts into the hands of the legislature and the executive.

Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.

It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.

War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods.

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

The final outcome of the credit expansion is general impoverishment.