It Is One Of The Most Fatal

It Is Rather A Problem Of How To Secure The Best Use Of Resources Known To Any Of The Members Of Society, For Ends Whose Relative Importance Only Those Individuals Know.

Unlike Liberalism, With Its Fundamental Belief In The Long-range Power Of Ideas, Conservatism Is Bound By The Stock Of Ideas Inherited At A Given Time. And Since It Does Not Really Believe In The Power Of Argument, Its Last Resort Is Generally A Claim To Superior Wisdom, Based On Some Self-arrogated Superior Quality.

As Is True With Respect To Other Great Evils, The Measures By Which War Might Be Made Altogether Impossible For The Future May Well Be Worse Than Even War Itself.

If Socialists Understood Economics, They Wouldn't Be Socialist.

Each Member Of Society Can Have Only A Small Fraction Of The Knowledge Possessed By All, And...each Is Therefore Ignorant Of Most Of The Facts On Which The Working Of Society Rests...civilization Rests On The Fact That We All Benefit From Knowledge Which We Do Not Possess. And One Of The Ways In Which Civilization Helps Us To Overcome That Limitation On The Extent Of Individual Knowledge Is By Conquering Intelligence, Not By The Acquisition Of More Knowledge, But By The Utilization Of Knowledge Which Is And Which Remains Widely Dispersed Among Individuals.