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

What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.

The capitalist system was termed "capitalism" not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx.

If the present tax rates had been in effect from the beginning of our century, many who are millionaires today would live under more modest circumstances. But all those new branches of industry which supply the masses with articles unheard of before, would operate, if at all, on a much smaller scale, and their products would be beyond the reach of the common man.

The distinctive principle of Western social philosophy is individualism.

Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.

The idea that political freedom can be preserved in the absence of economic freedom, and vice versa, is an illusion. Political freedom is the corollary of economic freedom.