If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.

While under precapitalistic conditions superior men were the masters on whom the masses of the inferior had to attend, under capitalism the more gifted and more able have no means to profit from their superiority other than to serve to the best of their abilities the wishes of the majority of the less gifted.

We must fight all that we dislike in public life. We must substitute better ideas for wrong ideas.

Once the principle is admitted that it is the duty of the government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments.

The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.

Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybodys actions aim at the satisfaction of other peoples needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens.