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

When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers ballot, held daily in the marketplace.

Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

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.

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.

Continued adherence to a policy of compulsory education is utterly incompatible with efforts to establish lasting peace.

Economic knowledge necessarily leads to liberalism