From the saintly and single-minded idealist to the fanatic is often but a step.

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

The advantage of a free market is that it allows millions of decision-makers to respond individually to freely determined prices, allocating resources - labor, capital and human ingenuity - in a manner that can't be mimicked by a central plan, however brilliant the central planner.

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.

In any society freedom of thought will probably be of direct significance for a small minority. But this does not mean that anyone is competent, or ought to have power, to select those to whom this freedom is to be reserved.

It is perhaps the most characteristic feature of the intellectual that he judges new ideas not by their specific merits but by the readiness with which they fit into his general conceptions, into the picture of the world which he regards as modern or advanced.

Liberty and responsibility are inseparable.