There Is, In A Competitive Society, Nobody

The Younger Generation Of Today Has Grown Up In A World In Which In School And Press The Spirit Of Commercial Enterprise Has Been Represented As Disreputable And The Making Of Profit As Immoral, Where To Employ A Hundred People Is Represented As Exploitation But To Command The Same Number As Honorable.

To Combat Depression By A Forced Credit Expansion Is To Attempt To Cure The Evil By The Very Means Which Brought It About; Because We Are Suffering From A Misdirection Of Production, We Want To Create Further Misdirection -- A Procedure Which Can Only Lead To A Much More Severe Crisis As Soon As The Credit Expansion Comes To An End.

In Government, The Scum Rises To The Top.

Unless We Can Make The Philosophic Foundations Of A Free Society Once More A Living Intellectual Issue, And Its Implementation A Task Which Challenges The Ingenuity And Imagination Of Our Liveliest Minds, The Prospects Of Freedom Are Indeed Dark. But If We Can Regain That Belief In Power Of Ideas Which Was The Mark Of Liberalism At Its Best, The Battle Is Not Lost.

..where Effective Competition Can Be Created, It Is A Better Way Of Guiding Individual Efforts Than Any Other... Regards Competition As Superior Not Only Because It Is In Most Circumstances The Most Efficient Method Known But Even More Because It Is The Only Method By Which Our Activities Can Be Adjusted To Each Other Without Coercive Or Arbitrary Intervention Of Authority.