There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.

Fascism was an emergency makeshift. To view it as something more would be a fatal error.

Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individuals life and the unrestricted supremacy of the government in its capacity as central board of production management.

People do not cooperate under the division of labor because they love or should love one another. They cooperate because this best serves their own interests.

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.

In the bureaucratic machine of socialism the way toward promotion is not achievement but the favor of the superiors.

The unpopularity of economics is the result of its analysis of the effects of privileges. It is impossible to invalidate the economists demonstration that all privileges hurt the interests of the rest of the nation or at least a great part of it.