Every Socialist Is A Disguised Dictator.

It Is Impossible To Understand The History Of Economic Thought If One Does Not Pay Attention To The Fact That Economics As Such Is A Challenge To The Conceit Of Those In Power.

The Idea Of Socialism Is At Once Grandiose And Simple. . .we May Say, In Fact, That It Is One Of The Most Ambitious Creations Of The Human Spirit, . . .so Magnificent, So Daring, That It Has Rightly Aroused The Greatest Admiration. If We Wish To Save The World From Barbarism We Have To Refute Socialism, But We Cannot Thrust It Carelessly Aside.

The Characteristic Feature Of Modern Capitalism Is Mass Production Of Goods Destined For Consumption By The Masses. The Result Is A Tendency Towards A Continuous Improvement In The Average Standard Of Living, A Progressing Enrichment Of The Many.

The Development Of Capitalism Consists In Everyone Having The Right To Serve The Consumer Better Or More Cheaply.

Competition On The Market Aims At Assigning To Every Individual That Function In The Social System In Which He Can Render To All His Fellow Men The Most Valuable Of The Services He Is Able To Perform.