The art of economics consists in looking not merely at the immediate but at the longer effects of any act read more

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

All political theories assume, of course, that most individuals are very ignorant. Those who plead for liberty differ from the read more

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.

The only good bureaucrat is one with a pistol at his head. Put it in his hand and it's good-by read more

The only good bureaucrat is one with a pistol at his head. Put it in his hand and it's good-by to the Bill of Rights.

When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.

When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.

In war there is no substitute for victory.

In war there is no substitute for victory.

The office of president is a bastardized thing, half royalty and half democracy, that nobody knows whether to genuflect or read more

The office of president is a bastardized thing, half royalty and half democracy, that nobody knows whether to genuflect or spit.

...whenever it is necessary that one of several conflicting opinions should prevail and when one would have to be made read more

...whenever it is necessary that one of several conflicting opinions should prevail and when one would have to be made to prevail by force if need be, it is less wasteful to determine which has the stronger support by counting numbers than by fighting. Democracy is the only method of peaceful change that man has yet been discovered.

We are the people our parents warned us about.

We are the people our parents warned us about.

There must be no barriers for freedom of inquiry. There is no place for dogma in science. The scientist is read more

There must be no barriers for freedom of inquiry. There is no place for dogma in science. The scientist is free, and must be free to ask any question, to doubt any assertion, to seek for any evidence, to correct any errors.