When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.

No human mind can comprehend all the knowledge which guides the actions of society.

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

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.

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.

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.

To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.