The supremacy of public opinion determines not only the singular role that economics occupies in the complex of thought and knowledge. It determines the whole process of human history.

Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.

The policies advocated by the welfare school remove the incentive to saving on the part of private citizens.

A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation.

The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.

Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.

The interventionists do not approach the study of economic matters with scientific disinterestedness. Most of them are driven by an envious resentment against those whose incomes are larger than their own. This bias makes it impossible for them to see things as they really are. For them the main thing is not to improve the conditions of the masses, but to harm the entrepreneurs and capitalists even if this policy victimizes the immense majority of the people.