In life everything is continually in flux.

The essential characteristic of Western civilization that distinguishes it from the arrested and petrified civilizations of the East was and is its concern for freedom from the state.

Suggestion of the Communist Manifesto was 'abolition of all right of inheritance.' Looking backward upon the past history of estate taxes, we have to realize that they more and more have approached the goal set by Marx. Estate taxes of the height they have already attained for the upper brackets are no longer to be qualified as taxes. They are measures of expropriation.

All almsgiving inevitably tends to pauperize the recipient.

Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.

The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.

Economics is not about things and tangible material objects; it is about men, their meanings and actions.