It Can Hardly Be Denied That Such

Competition Is Like Experimentation In Science, A Discovery Process, And It Must Rely On The Self Interest Of Producers, It Must Allow Them To Use Their Knowledge For Their Purposes, Because Nobody Else Possesses The Information

There Is Only One '' Principle That Can Preserve A Free Society: Namely, The Strict Prevention Of All Coercion Except In The Enforcement Of General Abstract Rules Equally Applicable To All.

The Principle That The End Justifies The Means Is In Individualist Ethics Regarded As The Denial Of All Morals. In Collectivist Ethics It Becomes Necessarily The Supreme Rule.

It Is, Indeed, Part Of The Liberal Attitude To Assume That, Especially In The Economic Field, The Self-regulating Forces Of The Market Will Somehow Bring About The Required Adjustments To New Conditions, Although No One Can Foretell How They Will Do This In A Particular Instance. There Is Perhaps No Single Factor Contributing So Much To People

All Political Theories Assume, Of Course, That Most Individuals Are Very Ignorant. Those Who Plead For Liberty Differ From The Rest In That They Include Among The Ignorant Themselves As Well As The Wisest. Compared With The Totality Of Knowledge Which Is Continually Utilized In The Evolution Of A Dynamic Civilization, The Difference Between The Knowledge That The Wisest And That The Most Ignorant Individual Can Deliberately Employ Is Comparatively Insignificant.