If Freedom Is To Flourish The Philosophic

While An Equality Of Rights Under A Limited Government Is Possible And An Essential Condition Of Individual Freedom, A Claim For Equality Of Material Position Can Be Met Only By A Government With Totalitarian Powers.

From The Saintly And Single-minded Idealist To The Fanatic Is Often But A Step.

Civilization Enables Us Constantly To Profit From Knowledge Which We Individually Do Not Possess And Because Each Individual's Use Of His Particular Knowledge May Serve To Assist Others Unknown To Him In Achieving Their Ends That Men As Members Of Civilized Society Can Pursue Their Individual Ends So Much More Successfully Than They Could Alone.

In Abbreviated Form, By A Kind Of Symbol, Only The Most Essential Information Is Passed On And Passed On Only To Those Concerned. It Is More Than A Metaphor To Describe The Price System As A Kind Of Machinery For Registering Change, Or A System Of Telecommunications Which Enables Individual Producers To Watch Merely The Movement Of A Few Pointers, As An Engineer Might Watch The Hands Of A Few Dials, In Order To Adjust Their Activities To Changes Of Which They May Never Know More Than Is Reflected In The Price Movement.

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