Competition Means Decentralized Planning By Many Separate

Least Of All Shall We Preserve Democracy Or Foster Its Growth If All The Power And Most Of The Important Decisions Rest With An Organization Far Too Big For The Common Man To Survey Or Comprehend.

The Credit Which The Apparent Conformity With Recognized Scientific Standards Can Gain For Seemingly Simple But False Theories May, As The Present Instance Shows, Have Grave Consequences.

The Nobel Prize Confers On An Individual An Authority Which In Economics No Man Ought To Possess.

The Chief Point We Must Remember Is That The Great And Rapid Advance Of The Physical Sciences Took Place In Fields Where It Proved That Explanation And Prediction Could Be Based On Laws Which Accounted For The Observed Phenomena As Functions Of Comparatively Few Variables - Either Particular Facts Or Relative Frequencies Of Events.

Human Reason Can Neither Predict Nor Deliberately Shape Its Own Future. Its Advances Consist In Finding Out Where It Has Been Wrong.