However widespread the desire to be free, that is wholly different from a desire to live in a society where others are free.

The inefficiency of political control of an economy has been demonstrated more often, in more places, and under more varied conditions, than almost anything outside the realm of pure science.

It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

When a highly successful leader retires after a long career, it is very unlikely that his successor will be of comparable caliber. Anyone of similar ability and drive would have gone somewhere else, instead of waiting in the wings for years for a chance to show his own leadership.

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

The freedom of America is the freedom to live your own life and take your own chances.

Someone once defined a social problem as a situation in which the real world differs from the theories of intellectuals. To the intelligentsia, it follows, as the night follows the day, that it is the real world that is wrong and which needs to change.