Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will

Economics is not about things and tangible material objects; it is about men, their meanings and actions.

An entrepreneur cannot be trained. A man becomes and entrepreneur by seizing an opportunity and filling the gap. No special education is required for such a display of keen judgment, foresight, and energy.

He who acts under an emotional impulse also acts. What distinguishes an emotional action from other actions is the valuation of input and output. Emotions disarrange valuations. Inflamed with passion, man sees the goal as more desirable and the price he has to pay for it as less burdensome than he would in cool deliberation.

Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.

Nobody can be at the same time a correct bureaucrat and an innovator

What is lacking to the underdeveloped nations is not knowledge, but capital.