Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.

The idea of Socialism is at once grandiose and simple. . .We may say, in fact, that it is one of the most ambitious creations of the human spirit, . . .so magnificent, so daring, that it has rightly aroused the greatest admiration. If we wish to save the world from barbarism we have to refute Socialism, but we cannot thrust it carelessly aside.

The superiority of the gold standard consists in the fact that the value of gold develops independent of political actions.

Almost all the fathers of socialism were members of the upper middle class or of the professions.

Anarchism misunderstands the real nature of man. It would be practicable only in a world of angels and saints

War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods.

The elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble. It would create poverty for all.