What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law.

The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.

What makes small business develop into big business is not spending, but saving and capital accumulation.

Everybody thinks of economics whether he is aware of it or not. In joining a political party or in casting his ballot, the citizen implicitly takes a stand upon essential economic theories.

The first socialists were the intellectuals; they, and not the masses, are the backbone of Socialism.

Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that.

War prosperity is like the prosperity that an earthquake or a plague brings...but no one has for those reasons yet sought to celebrate earthquakes and cholera as stimulators of the productive forces in the general interest.