Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

The inequality of income and fortunes is essential in capitalism.

A country becomes more prosperous in proportion to the rise in the invested capital unit per unit of its population.

An entrepreneur cannot be trained. A man becomes and entrepreneur by seizing an opportunity and filling the gap. No special education is required for such a display of keen judgment, foresight, and energy.

The superiority of the gold standard consists in the fact that the value of gold develops independent of political actions.

The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.

The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.