While an equality of rights under a limited government is possible and an essential condition of individual freedom, a claim for equality of material position can be met only by a government with totalitarian powers.

As is true with respect to other great evils, the measures by which war might be made altogether impossible for the future may well be worse than even war itself.

I am certain, however, that nothing has done so much to destroy the juridical safeguards of individual freedom as the striving after this mirage of social justice.

There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.

...the case for individual freedom rests largely on the recognition of the inevitable and universal ignorance of all of us concerning a great many of the factors on which the achievements of our ends and welfare depend.

And who will deny that a world in which the wealthy are powerful is still a better world than one in which only the already powerful can acquire wealth?

The economic freedom which is the prerequisite of any other freedom cannot be the freedom from economic care which the socialist promise us, and which can be obtained only by relieving the individual at the same time of the necessity and of the power of choice: it must be the freedom of economic activity which, with the right of choice, inevitably also carries the risk and the responsibility of that right