I see the liberty of the individual not only as a great moral good in itself (or, with Lord Acton, as the highest political good), but also as the necessary condition for the flowering of all the other goods that mankind cherishes: moral virtue, civilization, the arts and sciences, economic prosperity.

The more consistently Austrian School an economist is, the better a writer he will be.

Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.

Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs are the inevitable result.

The natural tendency of the state is inflation.

I define anarchist society as one where there is no legal possibility for coercive aggression against the person or property of any individual.

The more these readjustments are delayed ... the longer the depression will have to last, and the longer complete recovery is postponed.