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

The philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines; they are, on the contrary, the inescapable result of a consistent application of these doctrines.

Economic knowledge necessarily leads to liberalism

What those people who ask for equality have in mind is always an increase in their own power to consume.

The characteristic feature of militarism is not the fact that a nation has a powerful army or navy. It is the paramount role assigned to the army within the political structure. Even in peacetime the army is supreme; it is the predominant factor in political life. The subjects must obey the government as soldiers must obey their superiors. Within a militarist community there is no freedom; there are only obedience and discipline.

Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away

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