The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.

The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.

Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.

The distinctive principle of Western social philosophy is individualism.

In all countries with a settled bureaucracy people used to say: The cabinets come and go, but the bureaus remain.

The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value. Freedom really means the freedom to make mistakes.

The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended.