Those politicians, professors and union bosses who curse big business are fighting for a lower standard of living.

All almsgiving inevitably tends to pauperize the recipient.

Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.

Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.

The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value. Freedom really means the freedom to make mistakes.

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.

The idea of Socialism is at once grandiose and simple. . .We may say, in fact, that it is one of the most ambitious creations of the human spirit, . . .so magnificent, so daring, that it has rightly aroused the greatest admiration. If we wish to save the world from barbarism we have to refute Socialism, but we cannot thrust it carelessly aside.