The essence of democracy is not that everyone makes and administers laws but that lawgivers and rulers should be dependent on the people's will in such a way that they may be peaceably changed if conflict occurs.

There is no reason why capitalists and entrepreneurs should be ashamed of earning profits.

The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.

The financial history of the last century shows a steady increase in the amount of public indebtedness. Nobody believes that the states will eternally drag the burden of these interest payments. It is obvious that sooner or later all these debts will be liquidated in some way or other, but certainly not by payment of interest and principal according to the terms of the contract.

Every extension of the functions and power of the State beyond its primary duty of maintaining peace and justice should be scrutinized with jealous vigilance.

Rulers do not like to admit that their power is restricted by any laws other than those of physics and biology. They never ascribe their failures and frustrations to the violation of economic law.

The issue is always the same: the government or the market. There is no third solution.