Capitalism Is Not Only A Better Form

Perhaps Even More Than Elsewhere Current Notions Of What Is Desirable And Practicable Are Here Still Of A Kind Which May Well Produce The Opposite Of What They Promise.

Our Hopes Of Avoiding The Fate Which Threatens Must...[be To Make]adjustments That Will Be Needed If We Are To Recover And Surpass Our Former Standards...and Only If Every One Of Us Is Ready To Individually Obey The Necessities Of Readjustment Shall We Be Able To Get Through A Difficult Period As Free Men Who Can Choose Their Own Way Of Life. Let A Uniform Minimum Be Secured To Everybody By All Means; But Let Us Admit At The Same Time That With This Assurance Of A Basic Minimum All Claims For A Privileged Security For Particular Classes Must Lapse.

It Is Indeed Probable That More Harm And Misery Have Been Caused By Men Determined To Use Coercion To Stamp Out A Moral Evil Than By Men Intent On Doing Evil.

We Must Face The Fact That The Preservation Of Individual Freedom Is Incompatible With A Full Satisfaction Of Our Views Of Distributive Justice.

Each Member Of Society Can Have Only A Small Fraction Of The Knowledge Possessed By All, And...each Is Therefore Ignorant Of Most Of The Facts On Which The Working Of Society Rests...civilization Rests On The Fact That We All Benefit From Knowledge Which We Do Not Possess. And One Of The Ways In Which Civilization Helps Us To Overcome That Limitation On The Extent Of Individual Knowledge Is By Conquering Intelligence, Not By The Acquisition Of More Knowledge, But By The Utilization Of Knowledge Which Is And Which Remains Widely Dispersed Among Individuals.