The so-called liberals of today have the very popular idea that freedom of speech, of thought, of the press, freedom of religion, freedom from imprisonment without trial-that all these freedoms can be preserved in the absence of what is called economic freedom. They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions.

The market is a democracy in which every penny gives a right to vote.

Mankind does not drink alcohol because there are breweries, distilleries, and vineyards; men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.

Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.

In public administration there is no connection between revenue and expenditure.

A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation.

The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.