The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it.The read more

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it.The first lesson of politics is to disregard the first lesson of economics.

There is no such thing as justice--in or out of court.

There is no such thing as justice--in or out of court.

Because we can expect future generations to be richer than we are, no matter what we do about resources, asking read more

Because we can expect future generations to be richer than we are, no matter what we do about resources, asking us to refrain from using resources now so that future generations can have them later is like asking the poor to make gifts to the rich.

Equality may perhaps be a right, but no power on earth can ever turn it into a fact.

Equality may perhaps be a right, but no power on earth can ever turn it into a fact.

It is maintained that a society is free only when dissenting minorities have room to throw their weight around. As read more

It is maintained that a society is free only when dissenting minorities have room to throw their weight around. As a matter of fact, a dissenting minority feels free only when it can impose its will on the majority: what it abominates most is the dissent of the majority.

If the small minority of enlightened citizens who are able to conceive sound principles of political management do not succeed read more

If the small minority of enlightened citizens who are able to conceive sound principles of political management do not succeed in winning the support of their fellow citizens and converting them to the endorsement of policies that bring and preserve prosperity, the cause of mankind and civilization is hopeless. There is no other means to safeguard a propitious development of human affairs than to make the masses of inferior people adopt the ideas of the elite. This has to be achieved by convincing them. It cannot be accomplished by a despotic regime that instead of enlightening the masses beats them into submission. In the long run the ideas of the majority, however detrimental they may be, will carry on. The future of mankind depends on the ability of the elite to influence public opinion in the right direction.

No amount of study or learning will make a man a leader unless he has the natural qualities of one. read more

No amount of study or learning will make a man a leader unless he has the natural qualities of one. - "London Times", February 17, 1941.

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the read more

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.

The thing I enjoyed most were visits from children. They did not want public office.

The thing I enjoyed most were visits from children. They did not want public office.