Socialism is the renunciation of rational economy.

This is the difference between slavery and freedom. The slave must do what his superior orders him to do, but the free citizen-and this is what freedom means-is in a position to choose his own way of life.

If the present American laws concerning the taxation of the profits of corporations, the incomes of individuals, and inheritances had been introduced about 60 years ago, all those new products whose consumption has raised the standard of living of the 'common man' would either not be produced at all or only in small quantities for the benefit of a minority. The Ford enterprises would not exist if Henry Ford's profits had been taxed away as soon as they came into being.

The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.

Many pioneers of these industrial changes, it is true, became rich. But they acquired their wealth by supplying the public with motor cars, airplanes, radio sets, refrigerators, moving and talking pictures, and variety of less spectacular but no less useful innovations. These new products were certainly not an achievement of offices and bureaucrats.

It is indeed one of the principal drawbacks of every kind of interventionism that it is so difficult to reverse the process.

Economic knowledge necessarily leads to liberalism