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"Against what is stupid, nonsensical, erroneous, and evil, [classical] liberalism fights with the weapons of the mind, and not with brute force and repression."
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"Patriotism is the narcissism of countries."
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Personal Development
"Extreme positions are not succeeded by moderate ones, but by contrary extreme positions."
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Personal Development
"Some people had attack dogs. Ghastek had attack lawyers."
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Personal Development
"All authority belongs to the people."
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Personal Development
"A reactionary is a somnambulist walking backwards."
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Personal Development
"Communism, I observed, "is a pile of wank."
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Personal Development
"Help yourself with the state! It's on democracy!"
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Personal Development
"Our democracy is but a name. We vote? What does that mean? It means we choose between two bodies of real, though not avowed, autocrats. We choose between Tweedledum and Tweedledee..."
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Personal Development
"Make them fear you. Machiavelli said it nearly six hundred years ago, but it's still true. Every ruler should strive for his people to love him. But if they cannot love you, then make them fear you. Love is better, but fear will do the job."
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Personal Development
"I seldom think of politics more than eighteen hours a day."
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"When a country has substituted credit money or fiat money for metallic money, because the legal equating of the over-issued paper and the metallic money sets in motion the mechanism described by Gresham's Law, it is often asserted that the balance of payments determines the rate of exchange. But this also is a quite inadequate explanation. The rate of exchange is determined by the purchasing power possessed by a unit of each kind of money."
Economics
"The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices, that neither exportation nor importation can occur if there are no differences in prices to make trade profitable."
Economics
"The collapse of an inflation policy carried to its extreme -- as in the United States in 1781 and in France in 1796 -- does not destroy the monetary system, but only the credit money or fiat money of the State that has overestimated the effectiveness of its own policy. The collapse emancipates commerce from etatism and establishes metallic money again."
Currency
"Against what is stupid, nonsensical, erroneous, and evil, [classical] liberalism fights with the weapons of the mind, and not with brute force and repression."
Politics
"The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest."
Politics
"Local differences in the prices of commodities whose natures are technologically identical are to be explained on the one hand by differences in the cost of preparing them for consumption (expenses of transport, cost of retailing etc.) and on the other hand by the physical and legal obstacles that restrict the mobility of commodities and human beings."
Trade
"They did not suffer shipwreck because the entrepreneurs were not public-spirited, as the socialist-etatistic legend has it. They were bound to fail because the economic organization based upon division of labour and private property in the means of production can function only so long as price-determination in the market is free."
Economics
"For the etatist, money is a creature of the State, and the esteem in which money is held is the economic expression of the respect or prestige enjoyed by the State. The more powerful and the richer the State, the better its money. Thus, during the War, it was asserted that 'the monetary standard of the victors' would ultimately be the best money. Yet victory and defeat on the battlefield can exercise only an indirect influence on the value of money."
Economics
"Restrictionistic ideas have never met with any measure of popular sympathy except after a time of monetary depreciation when it has been necessary to decide what should take the place of the abandoned inflationary policy."
Economics
"It is not in the power of governments to increase the supply of one commodity without a corresponding restriction in the supply of other commodities more urgently demanded by consumers. The authority may reduce the price of one commodity only by raising the prices of others."
Economics
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