The concept of a ‘just’ or ‘fair’ price is devoid of any scientific meaning; it is a disguise for wishes, a striving for a state of affairs different from reality.
In public administration there is no connection between revenue and expenditure.
Democracy is not a good that people can enjoy without trouble. It is, on the contrary, a treasure that must be daily defended and conquered anew by strenuous effort.
The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
Society is best served when the means of production are in the possession of those who know how to use them best.
On the unhampered market there prevails an irresistible tendency to employ every factor of production for the best possible satisfaction of the most urgent needs of the consumers. If the government interfered with this process, it can only impair satisfaction; it can never improve it.
In many fields of the administration of interventionist measures, favoritism simply cannot be avoided.
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
What can prevent the coming of totalitarian socialism is only a thorough change in ideologies. What we need is an open positive endorsement of that system to which we owe all the wealth that distinguished our age from the conditions of ages gone by.
Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state.
Almost all the fathers of socialism were members of the upper middle class or of the professions.
The Santa Claus principle liquidates itself.
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.
The tow pillars of democratic government are the primacy of the law and the budget.
Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.
As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.
Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.
The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.
Capitalism has improved the standard of living of the wage earners to an unprecedented extent. The average American family enjoys today amenities of which, only a hundred years ago, not even the richest nabobs dreamed.