India is the most religious country in the world, Sweden is the most secular country in the world, and America is a country of Indians ruled by Swedes.

Let me say again that the relationship is asymmetrical: there's no democracy without a market economy, but you can have a market economy without democracy.

If you are good for nothing else, you can still serve as a bad example.

Institutions provide procedures through which human conduct is patterned, compelled to go, in grooves deemed desirable by society. And this trick is performed by making these grooves appear to the individual as the only possible ones.

Even if one is interested only in one's own society, which is one's prerogative, one can understand that society much better by comparing it with others.

An economy oriented toward production for market exchange provides the optimal conditions for long-lasting and ever-expanding productive capacity based on modern technology.

F. A. Hayek is probably the most prominent advocate of capitalism in the present period.