Socialism Constitutes A Threat To The Present

Any Man Who Is Only An Economist Is Unlikely To Be A Good One.

The [classical] Liberal, Of Course, Does Not Deny That There Are Some Superior People -- He Is Not An Egalitarian -- But He Denies That Anyone Has Authority To Decide Who These Superior People Are.

The History Of Government Management Of Money Has, Except For A Few Short Happy Periods, Been One Of Incessant Fraud And Deception.

It Is Rarely Remembered Now That Socialism In Its Beginnings Was Frankly Authoritarian. It Began Quite Openly As A Reaction Against The Liberalism Of The French Revolution. The French Writers Who Laid Its Foundation Had No Doubt That Their Ideas Could Be Put Into Practice Only By A Strong Dictatorial Government. The First Of Modern Planners, Saint-simon, Predicted That Those Who Did Not Obey His Proposed Planning Boards Would Be 'treated As Cattle'.

I Have Arrived At The Conviction That The Neglect By Economists To Discuss Seriously What Is Really The Crucial Problem Of Our Time Is Due To A Certain Timidity About Soiling Their Hands By Going From Purely Scientific Questions Into Value Questions.