I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions.

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

It can hardly be denied that such a demand quite arbitrarily limits the facts which are to be admitted as possible causes of the events which occur in the real world.

Wherever liberty as we understand it has been destroyed, this has almost always been done in the name of some new freedom promised to the people

Liberty and responsibility are inseparable.

The younger generation of today has grown up in a world in which in school and press the spirit of commercial enterprise has been represented as disreputable and the making of profit as immoral, where to employ a hundred people is represented as exploitation but to command the same number as honorable.

You can have economic freedom without political freedom, but you cannot have political freedom without economic freedom.