We Shall Not Grow Wiser Before We

The Advantage Of A Free Market Is That It Allows Millions Of Decision-makers To Respond Individually To Freely Determined Prices, Allocating Resources - Labor, Capital And Human Ingenuity - In A Manner That Can't Be Mimicked By A Central Plan, However Brilliant The Central Planner.

If This Is The Degree Of Inflation Planned For In Advance, The Real Outcome Is Indeed Likely To Be Such That Most Of Those Who Will Retire At The End Of The Century Will Be Dependent On The Charity Of The Younger Generation. And Ultimately Not Morals But The Fact That The Young Supply The Police And The Army Will Decide The Issue: Concentration Camps For The Aged Unable To Maintain Themselves Are Likely To Be The Fate Of An Old Generation Whose Income Is Entirely Dependent On Coercing The Young.

No Human Mind Can Comprehend All The Knowledge Which Guides The Actions Of Society.

The State Itself Becomes More And More Identified With The Interests Of Those Who Run Things Than With The Interests Of The People In General.

When It Becomes Dominated By A Collectivist Creed, Democracy Will Inevitably Destroy Itself.