The engine which drives enterprise is not thrift, but profit.

The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.

The book, as it stands, seems to me to be one of the most frightful muddles I have ever read, with scarcely a sound proposition in it beginning with page 45 [Hayek provided historical background up to page 45; after that came his theoretical model], and yet it remains a book of some interest, which is likely to leave its mark on the mind of the reader. It is an extraordinary example of how, starting with a mistake, a remorseless logician can end up in bedlam.

Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.

I work for a Government I despise for ends I think criminal.

Whenever you save five shillings you put a man out of work for a day.