No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit.

It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.

Servile labour disappeared because it could not stand the competition of free labour; its un-profitability sealed its doom in the market economy.

No matter how efficient school training may be, it would only produce stagnation, orthodoxy, and rigid pedantry if there were no uncommon men pushing forward beyond the wisdom of their tutors.

A higher standard of living also brings about a higher standard of culture and civilization.

Nothing, however, is as ill founded as the assertion of the alleged equality of all members of the human race.

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.