Success depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.

It is not true that democracy will always safeguard freedom of conscience better than autocracy. Witness the most famous of all trials. Pilate was, from the standpoint of the Jews, certainly the representative of autocracy. Yet he tried to protect freedom. And he yielded to a democracy.

There exists no more democratic institution than the market

Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can't bother about where they're going.

Our poverty will be brought home to us to its full extent only after the war.

The state has been living on a revenue which was being produced in the private sphere for private purposes and had to be deflected from these purposes by political force. The theory that construes taxes on the analogy of club dues or of the purchase of the services of, say, a doctor only proves how far removed this part of the social sciences is from scientific habits of mind.

Innovation is the market introduction of a technical or organisational novelty, not just its invention.