Miss Millick wondered just what had happened to Mr. Wran. He kept making the strangest remarks when she took dictation. Just this morning he had quickly turned around and asked, "Have you ever seen a ghost, Miss Millick?" And she had tittered nervously and replied, "When I was a girl there was a thing in white that used to come out of the closet in the attic bedroom when you slept there, and moan. Of course it was just my imagination. I was frightened of lots of things." And he had said, "I don't mean that traditional kind of ghost. I mean a ghost from the world today, with the soot of the factories in its face and the pounding of machinery in its soul. The kind that would haunt coal yards and slip around at night through deserted office buildings like this one. A real ghost. Not something out of books." And she hadn't known what to say. ("Smoke Ghost")

We make a living by what we get, but we make a life by what we give. The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. The whole history of the world is summed up in the fact that, when nations are strong, they are not always just, and when they wish to be just, they are no longer strong.

Conflict is not unavoidable. However, it is nonsensical to consider the institution of a state as a solution to the problem of possible conflict, because it is precisely the institution of a state which first makes conflict unavoidable and permanent.

Price controls almost invariably produce black markets, where prices are not only higher than the legally permitted prices, but also higher than they would be in a free market, since the legal risks must also be compensated. While small-scale black markets may function in secrecy, large-scale black markets usually require bribes to officials to look the other way.

Private property and free trade stand on exactly the same footing, both being essential and indivisible parts of liberty, both depending upon rights, which no body of men, whether called governments or anything else, can justly take from the individual.

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