Anti-semitism became equal to anti-Republicanism. And Hitler went to the peasants with a campaign of anti-capitalism. - Dorothy Thompson

The word ‘Liberal’ has now become so variously interpreted that few people know what it means. Those who use it most precisely today are the Fascists and the Communists. They know what Liberalism is, and they are against it. For these people are collectivists.

Pre-eighteenth century economics were governed, not by consumers, who determined what should be produced by what they were willing to buy in a competitive market, but by producers who enjoyed special privileges in return for the most stringent kind of state regulations. Mr. Walter Lippmann, in his book, The Good Society, points out that in the days of Louis XIV the manufacturers of France were told exactly what to produce and exactly how to produce it. Industry and agriculture were governed by codes more complicated than anything ever invented by the NRA or Mr. Wallace.

[P]rivate enterprise and initiative, willing to take risks in the hope of gain, allowed to function in freedom, have produced the greatest wealth ever known in the history of mankind. And that if you stop this process and turn everything over to government, the activity will slow down, inventiveness will cease, and we shall get not equalization of riches, but equalization of poverty.