The main characteristic of collectivism is that it does not take notice of the individual's will and moral self-determination. In the light of its philosophy the individual is born into a collective and it is "natural" and proper for him to behave as members of this collective are expected to behave. Expected by whom? Of course, by those individuals to whom, by the mysterious decrees of some mysterious agency, the task of determining the collective will and directing the actions of the collective has been entrusted.

The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent on the will of the people as consumers. Thus, whenever there is a conflict between the consumers' views and those of the business managers, market pressures assure that the views of the consumers win out eventually.

The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.

There were nowhere more docile disciples of Lenin, Trotsky and Stalin than the Nazis were.

It is untrue that some are poor because others are rich. If an order of society in which incomes were equal replaced the capitalist order, everyone would become poorer.

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

Continued adherence to a policy of compulsory education is utterly incompatible with efforts to establish lasting peace.