Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.

The early industrialists were for the most part men who had their origin in the same social strata from which their workers came. They lived very modestly, spent only a fraction of their earnings for their households and put the rest back into the business.

Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, protracted inflation.

The fundamental law of the market is: the customer is always right.

The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.

Fascism was an emergency makeshift. To view it as something more would be a fatal error.