Freedom really means the freedom to make mistakes.

If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.

The program of liberalism if condensed into a single word, would have to read: property, that is, private ownership of the means of production.

German Marxian's coined the dictum: If socialism is against human nature, then human nature must be changed.

All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave spontaneously.

It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective.

Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks.