It Is Quite Possible That Future Generations

I Set Out To Become The Greatest Lover In Vienna, The Greatest Horseman In Austria, And The Greatest Economist In The World. Alas, For The Illusions Of Youth: As A Horseman, I Was Never Really First-rate.

Situations Emerge In The Process Of Creative Destruction In Which Many Firms May Have To Perish That Nevertheless Would Be Able To Live On Vigorously And Usefully If They Could Weather A Particular Storm.

In One Important Sense, Marxism Is A Religion. To The Believer It Presents, First, A System Of Ultimate Ends That Embody The Meaning Of Life And Are Absolute Standards By Which To Judge Events And Actions; And, Secondly, A Guide To Those Ends Which Implies A Plan Of Salvation And The Indication Of The Evil From Which Mankind, Or A Chosen Section Of Mankind, Is To Be Saved.

Pessimistic Visions About Almost Anything Always Strike The Public As More Erudite Than Optimistic Ones

The State Has Been Living On A Revenue Which Was Being Produced In The Private Sphere For Private Purposes And Had To Be Deflected From These Purposes By Political Force. The Theory That Construes Taxes On The Analogy Of Club Dues Or Of The Purchase Of The Services Of, Say, A Doctor Only Proves How Far Removed This Part Of The Social Sciences Is From Scientific Habits Of Mind.