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.

Do not give in to evil, but proceed ever more boldly against it.

Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle.

Without speculation there can be no economic activity reaching beyond the immediate present.

To assign to everybody his proper place in society is the task of the consumers. Their buying and abstention from buying is instrumental in determining each individual's social position.

The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.

The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being.