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.

The market economy as such does not respect political frontiers. Its field is the world.

The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.

Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.

It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.

Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.

The whole of mankind's progress has had to be achieved against the resistance and opposition of the state and its power of coercion.