It is because every individual knows little and, in particular, because we rarely know which of us knows best best that we trust the independent and competitive efforts of many to induce the emergence of what we shall want when we see it.

Least of all shall we preserve democracy or foster its growth if all the power and most of the important decisions rest with an organization far too big for the common man to survey or comprehend.

Civilization enables us constantly to profit from knowledge which we individually do not possess and because each individual's use of his particular knowledge may serve to assist others unknown to him in achieving their ends that men as members of civilized society can pursue their individual ends so much more successfully than they could alone.

The ultimate decision about what is accepted as right and wrong will be made not by individual human wisdom but by the disappearance of the groups that have adhered to the "wrong" beliefs.

The more the state "plans" the more difficult planning becomes for the individual.

Social justice rests on the hate towards those that enjoy a comfortable position, namely, upon envy.

All political theories assume, of course, that most individuals are very ignorant. Those who plead for liberty differ from the rest in that they include among the ignorant themselves as well as the wisest.