What pushes the masses into the camp of socialism is, even more than the illusion that socialism will make them richer, the expectation that it will curb all those who are better than they themselves are.
Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence.
Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small élite.
The development of capitalism consists in everyone having the right to serve the consumer better or more cheaply.
Historical knowledge is indispensable for those who want to build a better world
In a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal.
It is merely a metaphor to call competition competitive war, or simply, war. The function of battle is destruction; of competition, construction.
There is no remedy for the inefficiency of public management.
The mark of the creative mind is that it defies a part of what it has learned.
The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest.
Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things.
Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest of mankind follows them little by little.
What generates war is the economic philosophy of nationalism: embargoes, trade and foreign exchange controls, monetary devaluation, etc. The philosophy of protectionism is a philosophy of war.
Taxing profits is tantamount to taxing success.
The continued existence of society depends upon private property.
Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. The schools are not nurseries of progress and improvement, but conservatories of tradition and unvarying modes of thought.
Whoever wants peace among nations must seek to limit the state and its influence most strictly.
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.
Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe.
It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.
What pays under capitalism is satisfying the common man, the customer. The more people you satisfy, the better for you.
There is no means by which anyone can evade his personal responsibility. Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a selfappointed elite of supermen. In such vital matters blind reliance upon 'experts' and uncritical acceptance of popular catchwords and prejudices is tantamount to the abandonment of self-determination and to yielding to other people's domination. As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny are at stake.
Louis XIV was very frank and sincere when he said: I am the State. The modern statist is modest. He says: I am the servant of the State; but, he implies, the State is God. You could revolt against a Bourbon king, and the French did it. This was, of course, a struggle of man against man. But you cannot revolt against the god State and against his humble handy man, the bureaucrat.
The riches of successful entrepreneurs is not the cause of anybody's poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur's efforts.
The final outcome of the credit expansion is general impoverishment.
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