Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.

The market economy-capitalism-is a social system of consumers' supremacy.

The attainment of the economic aims of man presupposes peace.

If history could prove and teach us anything, it would be the private ownership of the means of production as a necessary requisite of civilization and material well-being. All civilizations have up to now been based on private property. Only nations committed to the principle of private property have risen above penury and produced science, art, and literature. There is no experience to show that any other social system could provide mankind with any of the achievements of civilization.

Western civilization is based upon the libertarian principle, and all its achievements are the results of the action of free men.

The market economy as such does not respect political frontiers. Its field is the world.

Depression is the aftermath of credit expansion.