This means that to entrust to science - or to deliberate control according to scientific principles - more than scientific method can achieve may have deplorable effects.

Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any other known substitute for the market order could sustain the current population of the world.

... I prefer true but imperfect knowledge, even if it leaves much undetermined and unpredictable, to a pretense of exact knowledge that is likely to be false.

Socialism has never and nowhere been at first a working-class movement. It is by no means an obvious remedy for the obvious evil which the interests of that class will necessarily demand. It is a construction of theorists.

I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions.

The power which a multiple millionaire, who may be my neighbor and perhaps my employer, has over me is very much less than that which the smallest "functionaire" possesses who wields the coercive power of the state, and on whose desecration it depends whether and how I am allowed to live or to work.

The guiding principle that a policy of freedom for the individual is the only truly progressive policy remains as true today as it was in the nineteenth century.