Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.

What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.

Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit.

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.

Under capitalism everybody provides for their own needs by serving others.

Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.

All present-day governments are fanatically committed to an easy money policy.