Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.

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

Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.

The idea of Socialism is at once grandiose and simple. . .We may say, in fact, that it is one of the most ambitious creations of the human spirit, . . .so magnificent, so daring, that it has rightly aroused the greatest admiration. If we wish to save the world from barbarism we have to refute Socialism, but we cannot thrust it carelessly aside.

There were nowhere more docile disciples of Lenin, Trotsky and Stalin than the Nazis were.

The greater productivity of work under the division of labor is a unifying influence. It leads men to regard each other as comrades in a joint struggle for welfare, rather than as competitors in a struggle for existence. It makes friends out of enemies, peace out of war, society out of individuals.

How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department!