I am convinced that if the market system were the result of deliberate human design, and if the people guided by the price changes understood that their decisions have significance far beyond their immediate aims, this mechanism would have been acclaimed as one of the greatest triumphs of the human mind.

What a free society offers to the individual is much more than what he would be able to do if only he were free.

It is indeed probable that more harm and misery have been caused by men determined to use coercion to stamp out a moral evil than by men intent on doing evil.

The Nobel Prize confers on an individual an authority which in economics no man ought to possess.

It used to be the boast of free men that, so long as they kept within the bounds of the known law, there was no need to ask anybody's permission or to obey anybody's orders. It is doubtful whether any of us can make this claim today.

To be controlled in our economic pursuits means to be controlled in everything.

To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about.