Socialism Is The Renunciation Of Rational Economy.

Spontaneous Actions Of Individuals, Aiming At Nothing Else Than At The Improvement Of Their Own State Of Satisfaction, Undermined The Prestige Of The Coercive Status System Step By Step.

The Characteristic Feature Of A Free Society Is That It Can Function In Spite Of The Fact That Its Members Disagree In Many Judgments Of Value. Freedom Really Means The Freedom To Make Mistakes.

The Governments Alone Are Responsible For The Spread Of The Superstitious Awe With Which The Common Man Looks Upon Every Bit Of Paper Upon Which The Treasury Or Agencies Which It Controls Have Printed The Magical Words Legal Tender.

It Is Not The Fault Of The Entrepreneurs That The Consumers,the People, The Common Man,prefer Liquor To Bibles And Detective Stories To Serious Books, And That Governments Prefer Guns To Butter. The Entrepreneur Does Not Make Greater Profits In Selling Bad Things Than In Selling Good Things. His Profits Are The Greater The Better He Succeeds In Providing The Consumers With Those Things They Ask For Most Intensely.

The Luxury Of Today Is The Necessity Of Tomorrow. Every Advance First Comes Into Being As The Luxury Of A Few Rich People, Only To Become, After A Time, An Indispensable Necessity Taken For Granted By Everyone. Luxury Consumption Provides Industry With The Stimulus To Discover And Introduce New, Things. It Is One Of The Dynamic Factors In Our Economy. To It We Owe The Progressive Innovations By Which The Standard Of Living Of All Strata Of The Population Has Been Gradually Raised.