The real bosses, in the capitalist system of market economy, are the consumers.
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
Planning other people's actions means to prevent them from planning for themselves, means to deprive them of their essentially human quality, means enslaving them.
The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.
The issue is always the same: the government or the market. There is no third solution.
The mark of the creative mind is that it defies a part of what it has learned.
Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
Capitalism needs neither propaganda nor apostles. Its achievements speak for themselves. Capitalism delivers the goods.
Government cannot make man richer, but it can make him poorer.
It is important to remember that government interference always means either violent action or the threat of such action. Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen. The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
To the grumbler who complains about the unfairness of the market system only one piece of advice can be given: If you want to acquire wealth, then try to satisfy the public by offering them something that is cheaper or which they like better....Equality under the law gives you the power to challenge every millionaire.
The main propoganda trick of supporters of the allegedly "progressive" policy of government control is to blame capitalism for all that is unsatisfactory in present-day conditions and to extol the blessings of socialism. They have never attempted to prove their fallacious dogmas, all they did was to call their adversaries names and cast suspicion upon their motives. And, unfortunately, the average citizen cannot see through these stratagems. The liars must be afraid of the truth and are therefore driven to suppress its pronouncement.
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.
The market is a democracy in which every penny gives a right to vote.
A new type of superstition has got hold of people's minds, the worship of the state. People demand the exercise of the methods of coercion and compulsion, of violence and threat. Woe to anybody who does not bend his knee to the fashionable idols!
The fact is that, under a capitalistic system, the ultimate bosses are the consumers. The sovereign is not the state, it is the people.
Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
Depression is the aftermath of credit expansion.
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.
The so-called liberals of today have the very popular idea that freedom of speech, of thought, of the press, freedom of religion, freedom from imprisonment without trial-that all these freedoms can be preserved in the absence of what is called economic freedom. They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions.
He who serves the public best, makes the highest profits.
[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics
Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
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