It is neither necessary nor desirable that national boundaries should mark sharp differences in standards of living, that membership of a national group should entitle to a share in a cake altogether different from that in which members of other groups share.

Nowhere has democracy ever worked well without a great measure of local self-government, providing a school of political training for the people at large as much as for their future leaders.

We shall not grow wiser before we learn that much that we have done was very foolish.

Hayek was making us think of the productive process as a process in time, inputs coming before outputs.

Freedom can be preserved only if it is treated as a supreme principle which must not be sacrificed for particular advantages.

In government, the scum rises to the top.

Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?