To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war.

In the capitalist society there is a place and bread for all. Its ability to expand provides sustenance for every worker. Permanent unemployment is not a feature of free capitalism.

The aim of the popularization of economic studies is not to make every man an economist. The idea is to equip the citizen for his civic functions in community life.

War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods.

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.

The word "Capitalism" expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas.

One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.