Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small élite.

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.

If the present American laws concerning the taxation of the profits of corporations, the incomes of individuals, and inheritances had been introduced about 60 years ago, all those new products whose consumption has raised the standard of living of the 'common man' would either not be produced at all or only in small quantities for the benefit of a minority. The Ford enterprises would not exist if Henry Ford's profits had been taxed away as soon as they came into being.

It has always been the task of the new generation to provoke changes.

The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties were eager to restrict the sphere of private initiative and free enterprise.

The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.

Government cannot make man richer, but it can make him poorer.