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.

Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.

Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.

It is not conclusive proof of a doctrine's correctness that its adversaries use the police, the hangman, and violent mobs to fight it. But it is a proof of the fact that those taking recourse to violent oppression are in their subconscious convinced of the untenability of their own doctrines.

Only the naive inflationist's could believe that government could enrich mankind through fiat money.

No architect is held responsible for the behavior of those who inhabit the structure he designed.

Freedom really means the freedom to make mistakes.