A short time ago the demagogues blamed capitalism for the poverty of the masses. Today they rather blame capitalism for the "affluence" that it bestows upon the common man.

Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the means of production.

The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.

Human action is purposeful behavior.

The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty.

Society is best served when the means of production are in the possession of those who know how to use them best.

Without speculation there can be no economic activity reaching beyond the immediate present.