Market competition is the only form of organization which can afford a large measure of freedom to the individual.

All science is static in the sense that it describes the unchanging aspects of things.

...even professors of economics, to say nothing of the public, do not generally have scientific minds.

Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change.

Large scale collective bargaining . . . is merely a seductive name for bilateral monopoly, and means either adjudication of conflicts in terms of power, or deadlock and stoppage, usually injuring outside people more than the immediate parties to the dispute.

Costs merely register competing attractions.

The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past.