The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

It seems to be almost a law of human nature that it is easier for people to agree on a negative program - on the hatred of an enemy, on the envy of those better off - than on any positive task.

It is possible for a dictator to govern in a liberal way. And it is also possible for a democracy to govern with a total lack of liberalism. Personally I prefer a liberal dictator to democratic government lacking liberalism.

[The] impersonal process of the market ... can be neither just nor unjust, because the results are not intended or foreseen.

Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.

The credit which the apparent conformity with recognized scientific standards can gain for seemingly simple but false theories may, as the present instance shows, have grave consequences.

By giving the government unlimited powers, the most arbitrary rule can be made legal; and in this way a democracy may set up the most complete despotism imaginable.