I Do Not Think It Is An

It Is Because Freedom Means The Renunciation Of Direct Control Of Individual Efforts That A Free Society Can Make Use Of So Much More Knowledge Than The Mind Of The Wisest Ruler Could Comprehend.

Conservatives Are Inclined To Use The Powers Of Government To Prevent Change Or To Limit Its Rate To Whatever Appeals To The More Timid Mind. In Looking Forward, They Lack The Faith In The Spontaneous Forces Of Adjustment Which Makes The Liberal Accept Changes Without Apprehension, Even Though He Does Not Know How The Necessary Adaptations Will Be Brought About.

We Must Shed The Illusion That We Can Deliberately "create The Future Of Mankind." This Is The Final Conclusion Of The Forty Years Which I Have Now Devoted To The Study Of These Problems

Socialism Can Only Be Put Into Practice Only By Methods Which Most Socialists Disapprove.

To Combat Depression By A Forced Credit Expansion Is To Attempt To Cure The Evil By The Very Means Which Brought It About; Because We Are Suffering From A Misdirection Of Production, We Want To Create Further Misdirection -- A Procedure Which Can Only Lead To A Much More Severe Crisis As Soon As The Credit Expansion Comes To An End.