It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.

In truth, the gold standard is already a barbarous relic.

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.

Perhaps it is historically true that no order of society ever perishes save by its own hand.

I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

The numeric system was invented to help man to put order in the chaos of the world.

The importance of money flows from it being a link between the present and the future.