The history of mankind is the history of ideas.

What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.

Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.

The characteristic mark of economic history under capitalism is unceasing economic progress, a steady increase in the quantity of capital goods available, and a continuous trend toward an improvement in the general standard of living.

A famous, very often quoted phrase says: "That government is best, which governs least." I do not believe this to be a correct description of of the functions of a good government. Government ought to do all the things for which it is needed and for which it is established. Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. These are the functions of government within a free system, within the system of the market economy.

Those who disagree with the dictator's plan have no other means to carry on than to defeat the despot by force of arms.

There is an inherent tendency in all governmental power to recognize no restraints on its operation and to extend the sphere of its dominion as much as possible. To control everything, to leave no room for anything to happen of its own accord without the interference of the authorities--th is is the goal for which every ruler secretly strives.