The Reichswirtschaftsministerium ('Reich Ministry of Economic Affairs') tells the shop managers what and how to produce, at what prices and from whom to buy, at what prices and to whom to sell. It assigns every worker to his job and fixes his wages. It decrees to whom and on what terms the capitalists must entrust their funds. Market exchange is merely a sham.

A famous, very often quoted phrase says: "That government is best, which governs least." I do not believe this to be a correct description of of the functions of a good government. Government ought to do all the things for which it is needed and for which it is established. Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. These are the functions of government within a free system, within the system of the market economy.

A genius is always a teacher, never a pupil; he is always self-made.

Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away

All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out

Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.

Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things.