Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage.

Everybody thinks of economics whether he is aware of it or not. In joining a political party or in casting his ballot, the citizen implicitly takes a stand upon essential economic theories.

Every collectivist assumes a different source for the collective will, according to his own political, religious and national convictions.

History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.

The better an entrepreneur succeeds, the more is he vilified and themore is he soaked by taxation.

Marx and Engels openly declared that the progressive income tax and the death tax are 'economically untenable' and that they advocated them only because 'they necessitate further inroads' upon the capitalist system and are 'unavoidable' as a means of bringing about socialism.

We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men. What the operation of a market not sabotaged by the interference of compulsion and coercion can bring about is merely the best solution accessible to the human mind under the given state of technological knowledge and the intellectual abilities of the age's shrewdest men.