All Quotes

"Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings."

"If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action."

"You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the effort of men who are better than you. If this be arrogance, as some of your critics observed, it is still the truth that had to said in the age of the Welfare State."

"The proof of a theory is in its reasoning, not in its sponsorship"

"War prosperity is like the prosperity that an earthquake or a plague brings."

"Bourgeois civilization has built railroads and electric power plants, has invented explosives and airplanes, in order to create wealth. Imperialism has placed the tools of peace in the service of destruction. With modern means it would be easy to wipe out humanity at one blow."

"Socialism is the watchword and the catchword of our day. The socialist idea dominates the modem spirit. The masses approve of it. It expresses the thoughts and feelings of all; it has set its seal upon our time. When history comes to tell our story it will write above the chapter "The Epoch of Socialism." As yet, it is true, Socialism has not created a society which can be said to represent its ideal. But for more than a generation the policies of civilized nations have been directed towards nothing less than a gradual realization of Socialism."

"All rational action is economic. All economic activity is rational action. All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts."

"Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited."

"The characteristic mark of this age of dictators, wars and revolutions is its anti-capitalistic bias. Most governments and political parties are eager to restrict the sphere of private initiative and free enterprise. It is an almost unchallenged dogma that capitalism is done for and that the coming of all-round regimentation of economic activities is both inescapable and highly desirable."

"There were nowhere more docile disciples of Lenin, Trotsky and Stalin than the Nazis were."

"Just try and downpick as much as he does and you'll quickly realize your puny skills stand no chance against James."

"Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other. If government spending is financed by borrowing from the commercial banks, it means credit expansion and inflation. If in the course of such an inflation the rise in commodity prices exceeds the rise in nominal wage rates, unemployment will drop. But what makes unemployment shrink is precisely the fact that real wage rates are falling."

"Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump."

"The interventionists do not approach the study of economic matters with scientific disinterestedness. Most of them are driven by an envious resentment against those whose incomes are larger than their own. This bias makes it impossible for them to see things as they really are. For them the main thing is not to improve the conditions of the masses, but to harm the entrepreneurs and capitalists even if this policy victimizes the immense majority of the people."

"No social co-operation under the division of labour is possible when some people or unions of people are granted the right to prevent by violence and the threat of violence other people from working. When enforced by violence, a strike in vital branches of production or a general strike are tantamount to a revolutionary destruction of society."

"Whatever people do in the market economy, is the execution of their own plans. In this sense every human action means planning. What those calling themselves planners advocate is not the substitution of planned action for letting things go. It is the substitution of the planner's own plan for the plans of his fellow-men. The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute pre-eminence of his own plan."

"When people were committed to the idea that in the field of religion only one plan must be adopted, bloody wars resulted. With the acknowledgment of the principle of religious freedom these wars ceased. The market economy safeguards peaceful economic co-operation because it does not use force upon the economic plans of the citizens. If one master plan is to be substituted for the plans of each citizen, endless fighting must emerge. Those who disagree with the dictator's plan have no other means to carry on than to defeat the despot by force of arms."

"State and government are the social apparatus of violent coercion and repression. Such an apparatus, the police power, is indispensable in order to prevent anti-social individuals and bands from destroying social co-operation. Violent prevention and suppression of anti-social activities benefit the whole of society and each of its members. But violence and oppression are none the less evils and corrupt those in charge of their application. It is necessary to restrict the power of those in office lest they become absolute despots. Society cannot exist without an apparatus of violent coercion. But neither can it exist if the office holders are irresponsible tyrants free to inflict harm upon those they dislike."

"The fact is, Burke is smarter than two thirds of the Western Australian Labor Party rolled together"

"A familiar question for Australians is how much we are a product of our circumstances, and how much we are what we have made ourselves to be. In truth, by the act of migration the country was made: by that voluntary act and by the emigrants' ambitions it was built."

"We will not adopt the fantastic hypocrisy of modern conservatism which preaches the values of families and communities, while conducting a direct assault on them through reduced wages and conditions and job security."

"By the year 2000 we should be able to say that we have learned to live securely, in peace and mutual prosperity among our Asian and Pacific neighbours. We will not be cut off from our British and European cultures and traditions or from those economies. On the contrary, the more engaged we are economically and politically with the region around us, the more value and relevance we bring to those old relationships. Far from putting our identity at risk, our relationships with the region will energise it."

"In the end it's the big picture which changes nations and whatever our opponents may say, Australia's changed inexorably for good, for the better."

"Paul Keating ‘liked to say’, Professor Huntington asserts confidently, that I was going to change Australia from being ‘“the odd man out to the odd man in” in Asia’. Despite Professor Huntington’s authoritative quotation marks, I liked to say no such thing, and I never did. What I did say, and many times, was that Australia was not Asian or European or American or anything except Australian. This is what history and geography have delivered us. It is the only option we have and one which we have every reason to celebrate."

"We have heard often since the last election the mantra that Australia doesn’t have to choose between our history and our geography. It appears again in the Howard government’s recently released White Paper on foreign policy. But just think about that assertion for a minute. What could it possibly mean? No choice we can make as a nation lies between our history and our geography. We can hardly change either of them. They are immutable. The only choice we can make as a nation is the choice about our future."

"I mean (blowing lips), I mean he's going Mr Speaker, Mr Speaker, he's going troppo, he's going troppo, he's more to be pitied than despised, he's simply going troppo."

"You just can't have a position where some pumped up bunyip potentate dismisses an elected government."

"[Australian Reserve Bank] Governor MacFarlane said recently when Paul Volcker broke the back of American inflation it's regarded as the policy triumph of the Western world. When I broke the back of Australian inflation they say, "Oh, you're the fellow that put the interest rates up." Am I not the same fellow that gave them the 15 years of good growth and high wealth that came from it?"

"Between 1999 and 2004 there was no investment in Australia, it all went into housing and consumption all borrowed on the current account. When Peter Costello runs around saying, 'Oh we've paid off the debt,' it's like the pea and thimble trick. The Government debt or the massive private debt abroad? It's continuing to grow."

"The little desiccated coconut is under pressure and he is attacking anything he can get his hands on... (he is) still there araldited to the seat."

"All tip and no iceberg."

"For John Howard to get to any high moral ground he would have to first climb out of the volcanic hole he's dug for himself over the last decade. You know, it's like one of those deep diamond mined holes in South Africa, you know, they're about a mile underground. He'd have to come a mile up to get to even equilibrium, let alone have any contest in morality with Kevin Rudd."

"He's a pre-Copernican obscurantist."

"Because in the end those kind of conservative tea-leaf-reading focus group driven polling types who I think led Kim into nothingness, he's got his life to repent in leisure now at what they did to him."

"The Labor Party is not going to profit from having these proven unsuccessful people around who are frightened of their own shadow and won't get out of bed in the morning unless they've had a focus group report to tell them which side of bed to get out."

"Silly what's his name, the Shrek, whoever he was on the television this morning?"

"He’s the greatest L plater of all time."

"Clodhopper"

"I used to refer to him as Thallium, a slow acting dope"

"This is a low-flying person."

"While frenetic activity, in the end suiting journos; running at the behest of little press secretaries does not pay off"

"The dogs may bark but the caravan moves on."

"John Howard turned the prime ministership into something like a state police minister. He's at the scene of every crime, twice a day on radio, the guy did no thinking."

"This society of ours is better than the United States. It’s more even, it’s more fair, we’ve had a 50% increase in real income in the last 20 years. Median America has had zero, zero... We don’t shoot our children in schools and if they were to be shot we’d take the guns off the people who shot them. The Americans do not do this... The idea that… we are some sort of subordinate outfit that has to get a signal from abroad before we think of ours is a complete denial of everything we have created here."

"China is simply too big and too central to be ostracised. My point is that China is now so big and it is going to grow so large, it will have no precedents in modern social economic history.... we haven’t come to a point of accommodation where it acknowledges China’s pre-eminence in east Asia and the Asian mainland, in which case we can start to move towards a sensible relationship again with China. The key point is – is the rise of China legitimate? Is taking 20 per cent of humanity – 1.4 billion people – from abject poverty something the world should welcome? And in our terms, it has completely remodelled the Australian economy. If we give China the recognition I believe it is due in terms of its legitimacy … then I think a lot of these issues, the so-called 14 points, sort of fall off the table.... We have no relationship with Beijing, so why would the Prime Minister of Malaysia or Singapore or Thailand talk to us about east Asia when we are non-speakers with the biggest power, the Chinese?"

"Never get between a Premier and a bucket of money."

"Taiwan is not a vital Australian interest. We have no alliance with Taipei. There is no piece of paper sitting in Canberra which has an alliance with Taipei. We do not recognise it as a sovereign state – we’ve always seen it as a part of China... My view is Australia should not be drawn into a military engagement over Taiwan, US-sponsored or otherwise..."

"(On rebuilding relationships with Beijing) At least give it respect. What the Chinese want, I think, is respect for what they’ve created. Our central proposition should be that the rise of China is entirely valid. What the Chinese want is acknowledgement of the validity of what they have done and what they have created: the legitimacy of the rise of China from its colonial past and from poverty."

"(On Xi as president for life: ‘A belief in harmony’) Well, it’s a good way to stay in power, I guess. It’s not my way. I actually believe in a community’s right to dismiss the government. But you’ve got to remember that China is broadly a Confucian society that believes in harmony, in authority, and it is with this background that it accepts, I think broadly, the role of the Chinese Communist party. I mean, the idea that we have that if you don’t vote at the local ballot box, that is, if you are not a Jeffersonian liberal, then you are a savage, belies the fact that China has a 4,000-year history which has these characteristics about it."