The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built.

People do not cooperate under the division of labor because they love or should love one another. They cooperate because this best serves their own interests.

There is no remedy for the inefficiency of public management.

Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.

Thus, the isolated interference with one or a few prices of consumer goods always bring about effects-and this is important to realize-which are even less satisfactory than the conditions that prevailed before.

If people do not consume their whole incomes, the non-consumed surplus can be invested, it increases the amount of capital goods available and thereby makes it possible to embark upon projects which could not be executed before.

The elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble. It would create poverty for all.