The program of liberalism if condensed into a single word, would have to read: property, that is, private ownership of the means of production.

It is necessary to curb the power of government. This is the task of all constitutions, bills of rights and laws. This is the meaning of all struggles which men have fought for liberty.

Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.

What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.

The unprecedented success of Keynesianism is due to the fact that it provides an apparent justification for the 'deficit spending' policies of contemporary governments. It is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.

A higher standard of living also brings about a higher standard of culture and civilization.

It has always been the task of the new generation to provoke changes.