The criterion of truth is that it works even if nobody is prepared to acknowledge it.

In the bureaucratic machine of socialism the way toward promotion is not achievement but the favor of the superiors.

Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends.

A citizen who casts his ballot without having to the best of his abilities studied as much economics as he can fails in his civic duties.

The [liberals] consider profits as objectionable. The very existence of profits is in their eyes a proof that wage rates could be raised without harm to anybody. They speak of profit without dealing with loss. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities. A profitable enterprise tends to expand; an unprofitable one tends to shrink. The elimination of profit renders production rigid and abolishes the consumer's control.

The state is essentially an apparatus of compulsion and coercion. The characteristic feature of its activities is to compel people through the application or the threat of force to behave otherwise than they would like to behave.

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