There were nowhere more docile disciples of Lenin, Trotsky and Stalin than the Nazis were.
As the liberal sees it, the task of the state consists solely and exclusively in guaranteeing the protection of life, health, liberty, and private property against violent attacks. Everything that goes beyond this is an evil. A government that, instead of fulfilling its task, sought to go so far as actually to infringe on personal security of life and health, freedom, and property would, of course, be altogether bad.
Socialism is the renunciation of rational economy.
What makes small business develop into big business is not spending, but saving and capital accumulation.
As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital.
Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.
Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism.
Rulers do not like to admit that their power is restricted by any laws other than those of physics and biology. They never ascribe their failures and frustrations to the violation of economic law.
History can tell us what happened in the past. But it cannot assert that it must happen again in the future.
Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.
A short time ago the demagogues blamed capitalism for the poverty of the masses. Today they rather blame capitalism for the "affluence" that it bestows upon the common man.
The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.
Mankind does not drink alcohol because there are breweries, distilleries, and vineyards; men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.
Every restriction of trade creates vested interests that are from then on opposed to its removal.
War prosperity is like the prosperity that an earthquake or a plague brings...but no one has for those reasons yet sought to celebrate earthquakes and cholera as stimulators of the productive forces in the general interest.
War prosperity is like the prosperity that an earthquake or a plague brings.
Civilization is a work of peaceful co-operation.
What workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher.
It is labor alone that is productive: it creates wealth and therewith lays the outward foundations for the inward flowering of man.
The financial history of the last century shows a steady increase in the amount of public indebtedness. Nobody believes that the states will eternally drag the burden of these interest payments. It is obvious that sooner or later all these debts will be liquidated in some way or other, but certainly not by payment of interest and principal according to the terms of the contract.
The unpopularity of economics is the result of its analysis of the effects of privileges. It is impossible to invalidate the economists demonstration that all privileges hurt the interests of the rest of the nation or at least a great part of it.
A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation.
Human civilization is not something achieved against nature; it is rather the outcome of the working of the innate qualities of man.
An anti-something movement displays a purely negative attitude. It has no chance whatever to succeed. Its passionate diatribes virtually advertise the program they attack. People must fight for something that they want to achieve, not simply reject an evil, however bad it may be.
The school is a political prize of the highest importance. It cannot be deprived of its political character as long as it remains a public and compulsory institution.
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