If we can reduce the risk of friction likely to lead to war, this is probably all we can reasonably hope to achieve.

It is indeed probable that more harm and misery have been caused by men determined to use coercion to stamp out a moral evil than by men intent on doing evil.

If the resources of different nations are treated as exclusive properties of these nations as wholes, if international economic relations, instead of being relations between individuals, become increasingly relations between whole nations organized as trading bodies, they inevitably become the source of friction and envy between whole nations.

Any man who is only an economist is unlikely to be a good one.

Fascism is the stage reached after communism has proved an illusion.

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.

The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not.