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

He who acts under an emotional impulse also acts. What distinguishes an emotional action from other actions is the valuation of input and output. Emotions disarrange valuations. Inflamed with passion, man sees the goal as more desirable and the price he has to pay for it as less burdensome than he would in cool deliberation.

Depressions and mass unemployment are not caused by the free market but by government interference in the economy.

All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.

If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.

No people and no part of a people shall be held against its will in a political association that it does not want.