It Is Certain That Many Intellectuals Envy

The [liberals] Consider Profits As Objectionable. The Very Existence Of Profits Is In Their Eyes A Proof That Wage Rates Could Be Raised Without Harm To Anybody. They Speak Of Profit Without Dealing With Loss. Profit And Loss Are The Instruments By Means Of Which The Consumers Keep A Tight Rein On All Business Activities. A Profitable Enterprise Tends To Expand; An Unprofitable One Tends To Shrink. The Elimination Of Profit Renders Production Rigid And Abolishes The Consumer's Control.

We Do Not Assert That The Capitalist Mode Of Economic Calculation Guarantees The Absolutely Best Solution Of The Allocation Of Factors Of Production. Such Absolutely Perfect Solutions Of Any Problem Are Out Of Reach Of Mortal Men. What The Operation Of A Market Not Sabotaged By The Interference Of Compulsion And Coercion Can Bring About Is Merely The Best Solution Accessible To The Human Mind Under The Given State Of Technological Knowledge And The Intellectual Abilities Of The Age's Shrewdest Men.

Credit Expansion Can Bring About A Temporary Boom. But Such A Fictitious Prosperity Must End In A General Depression Of Trade, A Slump.

Once It Has Been Perceived That The Division Of Labour Is The Essence Of Society, Nothing Remains Of The Antithesis Between Individual And Society. The Contradiction Between Individual Principle And Social Principle Disappears.

The Alcoholic And The Drug Addict Harm Only Themselves By Their Behavior; The Person Who Violates The Rules Of Morality Governing Mans Life In Society Harms Not Only Himself, But Everyone.