Everybody thinks of economics whether he is aware of it or not. In joining a political party and in casting his ballot, the citizen implicitly takes a stand upon essential economic theories.

The market economy as such does not respect political frontiers. Its field is the world.

Laissez faire does not mean: Let soulless mechanical forces operate. It means: Let each individual choose how he wants to cooperate in the social division of labor; let the consumers determine what the entrepreneurs should produce. Planning means: Let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion.

Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire.

There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men.

Society is joint action and cooperation in which each participant sees the other partner’s success as a means for the attainment of his own.

Value is not intrinsic; it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment.