Many pioneers of these industrial changes, it is true, became rich. But they acquired their wealth by supplying the public with motor cars, airplanes, radio sets, refrigerators, moving and talking pictures, and variety of less spectacular but no less useful innovations. These new products were certainly not an achievement of offices and bureaucrats.

Modern society, based as it is on the division of labor, can be preserved only under conditions of lasting peace.

The whole of mankind's progress has had to be achieved against the resistance and opposition of the state and its power of coercion.

In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.

The continued existence of society depends upon private property.

Depressions and mass unemployment are not caused by the free market but by government interference in the economy.

A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation.