All knowledge is gained through an orderly loss of information.

Economics has been incurably growth-oriented and addicted to everybody growing richer, even at the cost of exhaustion of resources and pollution of the environment.

The world moves into the future as a result of decisions, not as a result of plans. Plans are significant only insofar as they affect decisions.

Economists are like computers. They need to have facts punched into them.

Justification, in terms of the broadening of freedom, for any particular form of institution of property must be argued in terms of whether the losses caused by the restrictions imposed are greater or less than the gains derived from the elimination of costly conflict.

We never like to admit to ourselves that we have made a mistake. Organizational structures tend to accentuate this source of failure of information.

Because of his capacity for abstract communications and language and his ability to enter in imagination into the lives of others, man is able to build organizations of a size and complexity far beyond those of the lower animals.