The market system is the basis of our civilization. Its only alternative is the Führer principle.

In the half-century 1879–1929, Western societies developed into close-knit units, in which powerful disruptive strains were latent. The more immediate source of this development was the impaired self-regulation of market economy. Since society was made to conform to the needs of the market mechanism, imperfections in the functioning of that mechanism created cumulative strains in the body social. Impaired self-regulation was an effect of protectionism.

In a modern capitalist society, what is moral is often determined by what has economic value.16

The outstanding discovery of recent historical and anthropological research is that man's economy, as a rule, is submerged in his social relationships. He does not act so as to safeguard his individual interest in the possession of material goods; he acts so as to safeguard his social standing, his social claims, his social assets. He values material goods only in so far as they serve this end. Neither the process of production nor that of distribution is linked to specific economic interests
attached to the possession of goods; but every single step in that process is geared to a number of social interests which eventually ensure that the required step be taken. These interests will be very different in a small hunting or fishing community from those in a vast despotic society, but in cither case the economic system will be run on noneconomic motives.

The congenital weakness of nineteenth century society was not that it was industrial but that it was a market society. Industrial civilization will continue to exist when the Utopian experiment of a self-regulating market will be no more than a memory.

Modern industrial civilization has developed within a certain system of convenient myths. The driving force of modern industrial civilization has been individual material gain, which is accepted as legitimate, even praiseworthy, on the grounds that private vices yield public benefits in the classic formulation.

Now, it's long been understood very well that a society that is based on this principle will destroy itself in time. It can only persist with whatever suffering and injustice it entails as long as it's possible to pretend that the destructive forces that humans create are limited: that the world is an infinite resource, and that the world is an infinite garbage-can. At this stage of history, either one of two things is possible: either the general population will take control of its own destiny and will concern itself with community-interests, guided by values of solidarity and sympathy and concern for others; or, alternatively, there will be no destiny for anyone to control.

As long as some specialized class is in a position of authority, it is going to set policy in the special interests that it serves. But the conditions of survival, let alone justice, require rational social planning in the interests of the community as a whole and, by now, that means the global community. The question is whether privileged elites should dominate mass-communication, and should use this power as they tell us they must, namely, to impose necessary illusions, manipulate and deceive the stupid majority, and remove them from the public arena. The question, in brief, is whether democracy and freedom are values to be preserved or threats to be avoided. In this possibly terminal phase of human existence, democracy and freedom are more than values to be treasured, they may well be essential to survival.

The virtue of capitalism is that society can take advantage of people’s greed rather than their benevolence, but there is no need to, in addition, extol such greed as a moral (or intellectual) accomplishment (the reader can easily see that, aside from very few exceptions like George Soros, I am not impressed by people with money).

The market is not an invention of capitalism. It has existed for centuries. It is an invention of civilization.

What a peculiar civilisation this was: inordinately rich, yet inclined to accrue its wealth through the sale of some astonishingly small and only distantly meaningful things, a civilisation torn and unable sensibly to adjudicate between the worthwhile ends to which money might be put and the often morally trivial and destructive mechanisms of its generation.

Although Adam Smith is today often regarded as a “conservative” figure, he in fact attacked some of the dominant ideas and interests of his own times. Moreover, the idea of a spontaneously self-equilibrating system — the market economy — first developed by the Physiocrats and later made part of the tradition of classical economics by Adam Smith, represented a radically new departure, not only in analysis of social causation but also in seeing a reduced role for political, intellectual, or other elites as guides or controllers of the masses.

Industry rests on the iron law of economic determination. All history reveals that economic interests are the strongest ties that bind men together. That is not because men's hearts are evil & selfish. It is only a result of the inexorable law of life. The desire to live is the basic principle that compels men & women to seek a more suitable environment, so that they may live better & more happily.

Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by the free-enterprise system.

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.

The portentous development of our present economic system, leading to a mighty accumulation of social wealth in the hands of privileged minorities and to a continuous impoverishment of the great masses of the people, prepared the way for the present political and social reaction, and befriended it in every way. It sacrificed the general interests of human society to the private interests of individuals, and thus systematically undermined the relationship between man and man. People forgot that industry is not an end in itself, but should be only a means to insure to man his material subsistence and to make accessible to him the blessings of a higher intellectual culture. Where industry is everything and man is nothing begins the realm of a ruthless economic despotism whose workings are no less disastrous than those of any political despotism. The two mutually augment one another, and they are fed from the same source.