If all the economists were laid end to end, they'd never reach a conclusion.

What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.

Whoever claims that economic competition represents 'survival of the fittest' in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics.

The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.

Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and power to consummate their entrepreneurial ideas.

Only positive consequences encourage good future performances.