The nation as such is not a large subject that has needs, that works, practices economy, and consumes. . . . Thus the phenomena of “national economy” . . . are, rather, the results of all the innumerable individual economic efforts in the nation and . . . must also be theoretically interpreted in this light. . . .Whoever wants to understand theoretically the phenomena of “national economy” . . . must for this reason attempt to go back to their true elements, to the singular economies in the nation, and to investigate the laws by which the former are built up from the latter.

Protectionism, socialism, all varieties of state favoritism and restrictions on competition, and the growth of bureaucracy and jobbery were the means by which special interests sought to exploit the public, the great mass of consumers and taxpayers.

The current disfavor into which socialism has fallen has spurred.... the frenzy to proclaim oneself a liberal. Many writers today have recourse to the strategem of inventing for oneself a liberalism according to one's own tastes and passing it off as an evolution from past ideas.

What is the free market? Well, the free market, [we're told] is really a terrible, inhuman kind of arrangement, because it treats people like commodities. But how does the government treat people? Like garbage-worse than garbage. Not like commodities, but like nothing. We libertarians understand that we are not humane, we are not compassionate. It's the leftists and the liberals, they're the ones who are human and compassionate, but you'd better not get in their way.

As liberals, men like Richter viewed socialism as the great modern counter-revolution, and believed that the achievement of the socialist goal would lead both to appalling poverty and state absolutism. There was nothing in the socialist doctrine of the time that would suggest otherwise.

Tariffs, government contracts, naval and military spending, nationalized industries, tax policy, social welfare, the legal privileging of labor unions were among the means at the disposal of the governing class to exploit the public at large for the benefits of its various clienteles.

Keynes, far from being a wholehearted lover of freedom, viewed with some sympathy the fascist and Communist ‘experiments’ of the 1930s.