Everything brought forward in favor of Socialism during the last hundred years, in thousands of writings and speeches, all the blood which has been spilt by the supporters of Socialism, cannot make socialism workable.

The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.

The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.

What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.

The whole of mankind's progress has had to be achieved against the resistance and opposition of the state and its power of coercion.

What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.

Economic knowledge necessarily leads to liberalism