I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it. - Friedrich Hayek

On the scale on which [tax cutting] is being tried, I'm a little apprehensive. I'm all for reduction of government expenditures but to anticipate it by reducing the rate of taxation before you have reduced expenditure is a very risky thing to do.

There is no salvation for Britain unless the special privileges granted to the trade unions in 1906 are revoked. The average level of real wages of British workers would undoubtedly be higher, and their chances of finding employment better, if the wages of different occupations were again determined by the market and all limitations on the work an individual is allowed to do were removed.

Our morality itself is the result of a process of cultural selection. Those things survive which enable the species to multiply.