If the present tax rates had been in effect from the beginning of our century, many who are millionaires today would live under more modest circumstances. But all those new branches of industry which supply the masses with articles unheard of before, would operate, if at all, on a much smaller scale, and their products would be beyond the reach of the common man.

Big business depends entirely on the patronage of those who buy its products: the biggest enterprises loses its power and its influence when it loses its customers.

Mankind does not drink alcohol because there are breweries, distilleries, and vineyards; men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.

In the bureaucratic machine of socialism the way toward promotion is not achievement but the favor of the superiors.

The criterion of truth is that it works even if nobody is prepared to acknowledge it.

Society is joint action and cooperation in which each participant sees the other partner's success as a means for the attainment of his own.

The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.