Economic power is exercised by means of a positive, by offering men a reward, an incentive, a payment, a value; political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment, destruction. The businessman's tool is values; the bureaucrat's tool is fear.

Congress shall make no law abridging the freedom of production and trade...

In a system of full capitalism, there should be (but, historically, has not yet been) a complete separation of state and economics, in the same way and for the same reasons as the separation of state and church.

Do not consider Collectivists as "sincere but deluded idealists". The proposal to enslave some men for the sake of others is not an ideal; brutality is not "idealistic," no matter what its purpose. Do not ever say that the desire to "do good" by force is a good motive. Neither power-lust nor stupidity are good motives.

Collectivism means the subjugation of the individual to a group—whether to a race, class or state does not matter. Collectivism holds that man must be chained to collective action and collective thought for the sake of what is called “the common good.

There is no difference between the principles, policies and practical results of socialism—and those of any historical or prehistorical tyranny. Socialism is merely democratic absolute monarchy—that is, a system of absolutism without a fixed head, open to seizure of power by all corners, by any ruthless climber, opportunist, adventurer, demagogue or thug.

When you consider socialism, do not fool yourself about its nature. Remember that there is no such dichotomy as “human rights” versus “property rights.” No human rights can exist without property rights.

People are not embracing collectivism because they have accepted bad economics. They are accepting bad economics because they have embraced collectivism.

The only thing that counts in life is solid, material assets. It's no time for theories when everything is falling to pieces around us.