What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.

He who disdains the fall in infant mortality and the gradual disappearance of famines and plagues may cast the first stone upon the materialism of the economists.

A new type of superstition has got hold of people's minds, the worship of the state.

In all countries with a settled bureaucracy people used to say: The cabinets come and go, but the bureaus remain.

Keynes did not teach us how to perform the miracle of turning a stone into bread, but the not at all miraculous procedure of eating the seed corn.

What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.

Both force and money are impotent against ideas.