...this remedy is the power of the citizens; they have to prevent the establishment of such an autocratic regime that arrogates to itself a higher wisdom than that of the average citizen. This is the fundamental difference between freedom and serfdom.

The luxury of today is the necessity of tomorrow. Every advance first comes into being as the luxury of a few rich people, only to become, after a time, an indispensable necessity taken for granted by everyone. Luxury consumption provides industry with the stimulus to discover and introduce new, things. It is one of the dynamic factors in our economy. To it we owe the progressive innovations by which the standard of living of all strata of the population has been gradually raised.

Only the naive inflationist's could believe that government could enrich mankind through fiat money.

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.

The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.

Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.

What governments call international monetary cooperation is concerted action for the sake of credit expansion.