Economic progress, in capitalist society, means turmoil.

Creative Destruction is the essential fact about capitalism.

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

Things economic and social move by their own momentum and the ensuing situations compel individuals and groups to behave in certain ways whatever they may wish to do-not indeed by destroying their freedom of choice but by shaping the choosing mentalities and by narrowing the list of possibilities from which to choose.

We always plan too much and always think too little.

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.

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