China and India combined to produce nearly half the world's economic output in 1820 compared to just 1.8% for the U.S. Our remarkable growth since 1820 has benefited from democratic institutions, a belief in capitalism, private property rights, an entrepreneurial culture, abundant resources, openness to foreign investment, the best universities, immigration and relatively transparent markets.

Let those who are actually concerned with peace observe that capitalism gave mankind the longest period of peace in history—a period during which there were no wars involving the entire civilized world—from the end of the Napoleonic wars in 1815 to the outbreak of World War I in 1914.

It must be remembered that the political systems of the nineteenth century were not pure capitalism, but mixed economies. The element of freedom, however, was dominant; it was as close to a century of capitalism as mankind has come. But the element of statism kept growing throughout the nineteenth century, and by the time it blasted the world in 1914, the governments involved were dominated by statist policies.

Just as, in domestic affairs, all the evils caused by statism and government controls were blamed on capitalism and the free market—so, in foreign affairs, all the evils of statist policies were blamed on and ascribed to capitalism. Such myths as "capitalistic imperialism," "war-profiteering," or the notion that capitalism has to win "markets" by military conquest are examples of the superficiality or the unscrupulousness of statist commentators and historians

Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.

True capitalists who deeply understand prosperity don't operate a business in order to put another institution out of business. They bring products and services to the market in order to serve others. They understand that it is in their best interests to serve others. They believe in efficient and effective service. (This book isn't out yet. I have an advanced copy of the manuscript).

Sell a man a fish he eats for a day, teach a man to fish and you've ruined a wonderful business opportunity.

Advocates of capitalism are very apt to appeal to the sacred principles of liberty, which are embodied in one maxim: The fortunate must not be restrained in the exercise of tyranny over the unfortunate.

We could rely on government to protect our common wealth, but as I wrote a few days ago, that would be to misplace our trust. Government is, most of the time, the handmaiden of profit-maximizing, cost-externalizing capital. Far better, when we have a chance, to lock up common wealth as common property, to be passed on, undiminished, from one generation to the next.

The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

...every individual necessarily labours to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.