Seen from the point of view of the particular group interests of the bureaucrats, every measure that makes the government's payroll swell is progress.

What is called economic progress is the joint effect of the activities of the three progressive groups-or classes-of the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy as far as it is not sabotaged by the endeavors of the nonprogressive majority of the routinists and the public policies supported by them.

My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline.

Taxing profits is tantamount to taxing success.

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 riches of successful entrepreneurs is not the cause of anybody's poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur's efforts.

The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.