Government is an apparatus of compulsion and coercion.

It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.

If one regards inflation as an evil, then one has to stop inflating. One has to balance the budget of the government.

The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.

Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.

The consumers are merciless. They never buy in order to benefit a less efficient producer and to protect him against the consequences of his failure to manage better. They want to be served as well as possible. And the working of the capitalist system forces the entrepreneur to obey the orders issued by the consumers.

Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.