Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power.

Capitalism created the possibility of employment.

The [classical] liberal, of course, does not deny that there are some superior people -- he is not an egalitarian -- but he denies that anyone has authority to decide who these superior people are.

Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and the enforcement of ideals and, as such, essential if central planning on a large scale is to be possible.

It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.

The social sciences, like much of biology but unlike most fields of the physical sciences, have to deal with structures of essential complexity, i.e. with structures whose characteristic properties can be exhibited only by models made up of relatively large numbers of variables.

By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point which the majority have reached.