A higher standard of living also brings about a higher standard of culture and civilization.

The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended.

The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.

We must fight all that we dislike in public life. We must substitute better ideas for wrong ideas.

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.

A higher standard of living also brings about a higher standard of culture and civilization.

The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.