For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they are provided for.

The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.

The wealth of the well-to-do of an industrial society is both the cause and effect of the masses' well-being.

If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.

The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.

Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them.

If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.