The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.

It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.

Though freedom and wealth are both good things which most of us desire and though we often need both to obtain what we wish, they still remain different. Whether or not I am my own master and can follow my own choice and whether the possibilities from which I must choose are many or few are two entirely different questions. The courtier living in the lap of luxury but at the beck and call of his prince may be much less free than a poor peasant or artisan, less able to live his own life and to choose his own opportunities for usefulness.

The social sciences, like much of biology but unlike most fields of the physical sciences, have to deal with structures of essential complexity, i.e. with structures whose characteristic properties can be exhibited only by models made up of relatively large numbers of variables.

The state itself becomes more and more identified with the interests of those who run things than with the interests of the people in general.

Nothing is more securely lodged than the ignorance of the experts.

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