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.

Suggestion of the Communist Manifesto was 'abolition of all right of inheritance.' Looking backward upon the past history of estate taxes, we have to realize that they more and more have approached the goal set by Marx. Estate taxes of the height they have already attained for the upper brackets are no longer to be qualified as taxes. They are measures of expropriation.

Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.

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

Fortunes cannot grow; someone has to increase them.

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.

An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when the fountain is drained off: The Santa Clause principle liquidates itself.