The goal of liberalism is the peaceful cooperation of all men. It aims at peace among nations too. When there is private ownership of the means of production everywhere and when laws, the tribunals and the administration treat foreigners and citizens on equal terms, it is of little importance where a country's frontiers are drawn... War no longer pays; there is no motive for aggression... All nations can coexist peacefully.

The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.

Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.

The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.

The market is a democracy in which every penny gives a right to vote.

There prevails on a free labor market a tendency toward full employment.

Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.