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.

A society that robs an individual of the product of his effort, or enslaves him, or attempts to limit the freedom of his mind, or compels him to act against his own rational judgment ... is not, strictly speaking, a society, but a mob held together by institutionalized gang-rule.