Every step which leads from capitalism toward planning is necessarily a step nearer to absolutism and dictatorship.

Within a world of free trade and democracy there are no incentives for war and conquest. In such a world it is of no concern whether a nation’s sovereignty stretches over a larger or a smaller territory. Its citizens cannot derive any advantage from the annexation of a province. us territorial problems can be treated without bias and passion; it is not painful to be fair to other people’s claims for self-determination.

The valuations which result in determination of definite prices are different. Each party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of equality of valuation, but on the contrary, the product of a discrepancy in valuation.

Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.

He who is unfit to serve his fellow citizens wants to rule them.

No people and no part of a people shall be held against its will in a political association that it does not want.

The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.

The welfare of a people lies not in casting other peoples down but in peaceful collaboration.

If any of the socialist chiefs had tried to earn his living by selling hot dogs, he would have learned something about the sovereignty of the consumers.