Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the means of production.

The riches of successful entrepreneurs is not the cause of anybody's poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur's efforts.

All that Lenin learned about business from the tales of his comrades who occasionally sat in business offices was that it required a lot of scribbling, recording, and ciphering. Thus, he declares that accounting and control are the chief things necessary for the organizing and correct functioning of society. . . . Here we have the philosophy of the filing clerk in its full glory.

The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.

Society is best served when the means of production are in the possession of those who know how to use them best.

The goal of liberalism is the peaceful cooperation of all men. It aims at peace among nations too. When there is private ownership of the means of production everywhere and when laws, the tribunals and the administration treat foreigners and citizens on equal terms, it is of little importance where a country's frontiers are drawn... War no longer pays; there is no motive for aggression... All nations can coexist peacefully.

What can prevent the coming of totalitarian socialism is only a thorough change in ideologies. What we need is an open positive endorsement of that system to which we owe all the wealth that distinguished our age from the conditions of ages gone by.