The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built.
It is always the individual who thinks. Society does not think any more than it eats or drinks. The evolution of human reasoning from the naive thinking of primitive man to the more subtle thinking of modern science took place within society. However, thinking itself is always an achievement of individuals.
The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
There is in the universe something for the description and analysis of which the natural sciences cannot contribute anything. There are events beyond the range of those events that the procedures of the natural sciences are fit to observe and describe. There is human action.
Society is only possible on these terms, that the individual finds therein a strengthening of his own ego and his own will.
The methods of the natural sciences cannot be applied to human behavior because this behaviorlacks the peculiarity that characterizes events in the field of the natural sciences, viz., regularity.
Scientific research sooner or later, but inevitably, encounters something ultimately given that it cannot trace back to something else of which it would appear as the regular or necessary derivative. Scientific progress consists in pushing further back this ultimately given.
Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal.
The avowed aim of all utopian movements is to put an end to history and to establish a final and permanent calm.
The member of a contractual society is free because he serves others only in serving himself. What restrains him is only the inevitable natural phenomenon of scarcity.
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