Without speculation there can be no economic activity reaching beyond the immediate present.

Society is joint action and cooperation in which each participant sees the other partner's success as a means for the attainment of his own.

The masses do not like those who surpass them in any regard. The average man envies and hates those who are different.

If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.

Whoever wants peace among nations must seek to limit the state and its influence most strictly.

Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.

Peace and not war is the father of all things.