Nobody can be at the same time a correct bureaucrat and an innovator.
Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow...
What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
The study of economics has been again and again led astray by the vain idea that economics must proceed according to the pattern of other sciences.
In the capitalist society there is a place and bread for all. Its ability to expand provides sustenance for every worker. Permanent unemployment is not a feature of free capitalism.
Continued inflation inevitably leads to catastrophe.
The market is not a place, a thing, or a collective entity. It is a process.
The public firm can nowhere maintain itself in free competition with the private firm; it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.
The continued existence of society depends upon private property.
Those politicians, professors and union bosses who curse big business are fighting for a lower standard of living.
The situation of having to belong to a state to which one does not wish is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest.
The consumers suffer when the laws of the country prevent the most efficient entrepreneurs from expanding the sphere of their activities. What made some enterprises develop into “big business” was precisely their success in filling best the demand of the masses.
The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built.
What counts alone is the innovator, the dissenter, the harbinger of things unheard of, the man who rejects the traditional standards and aims at substituting new values and ideas for old ones.
The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
The egalitarian doctrine is manifestly contrary to all the facts established by biology and by history. Only fanatical partisans of this theory can contend that what distinguishes the genius from the dullard is entirely the effect of postnatal influences.
It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.
The worst law is better than bureaucratic tyranny.
The democracy of the market consists in the fact that people themselves make their choices and that no dictator has the power to force them to submit to his value judgments.