Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump.

The "progressives" who today masquerade as "liberals" may rant against "fascism"; yet it is their policy that paves the way for Hitlerism. Nothing could have been more helpful to the success of the National-Socialist (Nazi) movement than the methods used by the "progressives," denouncing Nazism as a party serving the interests of "capital." The German workers knew this tactic too well to be deceived by it again.

Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.

Everything brought forward in favor of Socialism during the last hundred years, in thousands of writings and speeches, all the blood which has been spilt by the supporters of Socialism, cannot make socialism workable.

No people and no part of a people shall be held against its will in a political association that it does not want.

There is no remedy for the inefficiency of public management.

An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when the fountain is drained off: The Santa Clause principle liquidates itself.