It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.

My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline.

The state is essentially an apparatus of compulsion and coercion. The characteristic feature of its activities is to compel people through the application or the threat of force to behave otherwise than they would like to behave.

The state can be and has often been in the course of history the main source of mischief and disaster.

What those people who ask for equality have in mind is always an increase in their own power to consume.

Against what is stupid, nonsensical, erroneous, and evil, [classical] liberalism fights with the weapons of the mind, and not with brute force and repression.

Do the American voters know that the unprecedented improvement in their standard of living that the last hundred years brought was the result of the steady rise in the per-head quota of capital invested? Do they realize that every measure leading to capital decumulation jeopardizes their prosperity?