Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.

Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.

The Marxians love of democratic institutions was a stratagem only, a pious fraud for the deception of the masses. Within a socialist community there is no room left for freedom.

If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.

The comparatively greater prosperity of the United States is an outcome of the fact that the New Deal did not come in 1900 or 1910, but only in 1933.

An anti-something movement displays a purely negative attitude. It has no chance whatever to succeed. Its passionate diatribes virtually advertise the program they attack. People must fight for something that they want to achieve, not simply reject an evil, however bad it may be.

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.