The mind cannot foresee its own advance.

Competition means decentralized planning by many separate persons.

Wherever liberty as we understand it has been destroyed, this has almost always been done in the name of some new freedom promised to the people

We know: of course, with regard to the market and similar social structures, a great many facts which we cannot measure and on which indeed we have only some very imprecise and general information.

Personally I prefer a liberal dictator to democratic government lacking liberalism.

Perhaps even more than elsewhere current notions of what is desirable and practicable are here still of a kind which may well produce the opposite of what they promise.

Many of the greatest things man has achieved are not the result of consciously directed thought, and still less the product of a deliberately coordinated effort of many individuals, but of a process in which the individual plays a part which he can never fully understand.