“The mind cannot foresee its own advance.”

“Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.”

“We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.”

“'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.”

“If we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion.”

“It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.”

“Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom.”

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”

“We shall not grow wiser before we learn that much that we have done was very foolish.”

“I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.”

“He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.”