No architect is held responsible for the behavior of those who inhabit the structure he designed.
The policies advocated by the welfare school remove the incentive to saving on the part of private citizens.
The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
The better an entrepreneur succeeds, the more is he vilified and themore is he soaked by taxation.
How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department!
The genuine history of mankind is the history of ideas. It is ideas that distinguish man from all other beings. Ideas engender social institutions, political changes, technologi- cal methods of production, and all that is called economic conditions.
Keynes did not teach us how to perform the miracle of turning a stone into bread, but the not at all miraculous procedure of eating the seed corn.
Plato and Hitler were both the same kind of consistent socialists who planned also for the production of future socialists, the breeding and education of future members of society.
One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.
What makes the existence and the evolution of society possible is precisely the fact that peaceful cooperation under the social division of labor in the long run best serves the selfish concerns of all individuals. The eminence of the market society is that its whole functioning and operation is the consummation of this principle.
The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
Suggestion of the Communist Manifesto was 'abolition of all right of inheritance.' Looking backward upon the past history of estate taxes, we have to realize that they more and more have approached the goal set by Marx. Estate taxes of the height they have already attained for the upper brackets are no longer to be qualified as taxes. They are measures of expropriation.
Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them.
Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.
The interventionist policy (big government) provides thousands and thousands of people with safe, placid, and not too strenuous jobs at the expense of the rest of society.
No one can escape the influence of a prevailing ideology.
A citizen who casts his ballot without having to the best of his abilities studied as much economics as he can fails in his civic duties.
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.
The liberals of the eighteenth century, guided by the ideas of natural law and of the Enlightenment, demanded for everyone equality of political and civil rights... Nothing, however, is as ill-founded as the assertion of the alleged equality of all members of the human race.
All the talk about the so-called unspeakable horror of early capitalism can be refuted by a single statistic: precisely in these years in which British capitalism developed, precisely in the age called the Industrial Revolution in England, in the years from 1760 to 1830, precisely in those years the population of England doubled.
Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state.
As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
The market system makes all producers responsible to the consumer.
Human action is purposeful behavior.
Everything brought forward in favor of Socialism during the last hundred years, in thousands of writings and speeches, all the blood which has been spilt by the supporters of Socialism, cannot make socialism workable.
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