We are only beginning to understand on how subtle a communication system the functioning of an advanced industrial society is based - a communications system which we call the market and which turns out to be a more efficient mechanism for digesting dispersed information than any that man has deliberately designed.

In the physical sciences there may be little objection to trying to do the impossible; one might even feel that one ought not to discourage the over-confident …

If man is not to do more harm than good in his efforts to improve the social order, he will have to learn that in this, as in all other fields where essential …

As we advance we find more and more frequently that we can in fact ascertain only some but not all the particular circumstances which determine the outcome of …

As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry tha…

All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of …

The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must…