The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.

The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.

Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends.

The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.

What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.

Everybody thinks of economics whether he is aware of it or not. In joining a political party or in casting his ballot, the citizen implicitly takes a stand upon essential economic theories.

Democracy is not a good that people can enjoy without trouble. It is, on the contrary, a treasure that must be daily defended and conquered anew by strenuous effort.