History has witnessed the failure of many endeavors to impose peace by war, cooperation by coercion, unanimity by slaughtering dissidents.... A lasting order cannot be established by bayonets.

These people talk of a "middle-of-the-road" policy. What they do not see is that the isolated interference, which means the interference with only one small part of the economic system, brings about a situation which the government itself — and the people who are asking for government interference — find worse than the conditions they wish to abolish: the people who are asking for rent control are very angry when they discover there is a shortage of apartments and a shortage of housing.

An anti-something movement displays a purely negative attitude. It has no chance whatever to succeed. Its passionate diatribes virtually advertise the program they attack. People must fight for something that they want to achieve, not simply reject an evil, however bad it may be.

What is lacking to the underdeveloped nations is not knowledge, but capital.

Liberty is always freedom from the government.

The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income.

The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.