Moral vices prosper by dressing themselves as virtues.

If the central contest of the twentieth century has pitted capitalism against socialism, then F. A. Hayek has been its central figure. He helped us to understand why capitalism won by a knockout. It was Hayek who elaborated the basic argument demonstrating that central planning was nothing else but an impoverishing fantasy.

Politics is the activity by which the framework of human life is sustained it is not life itself.

Europeans have sometimes been beguiled by a despotism that comes concealed in the seductive form of an ideal – as it did in the cases of Hitler and Stalin. This fact may remind us that the possibility of despotism is remote neither in space nor in time.