An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.

My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.

The hardest thing to judge is what level of risk is safe.

Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.

There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

Revolutions usually start with enthusiasm and end in tears.