Nobody is in a position to decree what should make a fellow man happier.

It is indeed one of the principal drawbacks of every kind of interventionism that it is so difficult to reverse the process.

The study of economics has been again and again led astray by the vain idea that economics must proceed according to the pattern of other sciences.

The school is a political prize of the highest importance. It cannot be deprived of its political character as long as it remains a public and compulsory institution.

If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

The unpopularity of economics is the result of its analysis of the effects of privileges. It is impossible to invalidate the economists demonstration that all privileges hurt the interests of the rest of the nation or at least a great part of it.

The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the people's mandatories. If they do not obey, if they fail to produce, at the lowest possible cost, what