What is called economic progress is the joint effect of the activities of the three progressive groups-or classes-of the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy as far as it is not sabotaged by the endeavors of the nonprogressive majority of the routinists and the public policies supported by them.

A genius is always a teacher, never a pupil; he is always self-made.

In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.

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

War prosperity is like the prosperity that an earthquake or a plague brings.

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.

How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department!