Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.

Governments, political parties, pressure groups, and the bureaucrats of the educational hierarchy think they can avoid the inevitable consequences of unsuitable measures by boycotting and silencing the independent economists. But truth persists and works, even if nobody is left to utter it.

War...is harmful, not only to the conquered but to the conqueror.

Welfare policies never attain those - allegedly beneficial - ends which the government and the self-styled progressives who advocated them wanted to attain, but - on the contrary - bring about a state of affairs which - from the very point of view of the government and its supporters - is even more unsatisfactory than the previous state of affairs they wanted to 'improve.'

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.

Depressions and mass unemployment are not caused by the free market but by government interference in the economy.

Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.