The First Thing A Man Will Do

Democracy Is A Political Method, That Is To Say, A Certain Type Of Institutional Arrangement For Arriving At Political — Legislative And Administrative — Decisions And Hence Incapable Of Being An End In Itself.

The Function Of Entrepreneurs Is To Reform Or Revolutionize The Pattern Of Production By Exploiting An Invention Or, More Generally, An Untried Technological Possibility For Producing A New Commodity Or Producing An Old One In A New Way, By Opening Up A New Source Of Supply Of Materials Or A New Outlet For Products, By Reorganizing An Industry And So On.

The Modern Mind Dislikes Gold Because It Blurts Out Unpleasant Truths.

It Is Quite Possible That Future Generations Will Look Upon Arguments About The Inferiority Of The Socialist Plan As We Look Upon Adam Smith's Argument About Joint Stock Companies Which, Also, Were Simply False.

The Capitalist Engine Is First And Last An Engine Of Mass Production Which Unavoidably Also Means Production For The Masses. . . . It Is The Cheap Cloth, The Cheap Cotton And Rayon Fabric, Boots, Motorcars And So On That Are The Typical Achievements Of Capitalist Production, And Not As A Rule Improvements That Would Mean Much To The Rich Man. Queen Elizabeth Owned Silk Stockings. The Capitalist Achievement Does Not Typically Consist In Providing More Silk Stockings For Queens But In Bringing Them Within Reach Of Factory Girls.