The superior freedom of the capitalist system, its superior justice, and its superior productivity are not three superiorities, but one. The justice follows from the freedom and the productivity follows from the freedom and the justice.
- Henry Hazlitt
- The Freeman. June 1993.
Capitalism, the system of private property and free markets, is not only a system of freedom and of natural justice - which tends in spite of exceptions to distribute rewards in accordance with production - but it is a great co-operative and creative system that has produced for our generation an affluence that our ancestors did not dare dream of.
- Henry Hazlitt
- Towards Liberty
Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.
- Ludwig von Mises
- Human Action
What impels every man to the utmost exertion in the service of his fellow man…. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
- Ludwig von Mises
- Human Action
When we look at the astonishing material achievements of the West…. we see these things as the result, not of compulsion or government action or the superior wisdom of a few, but of that system of competition and free enterprise, rewarding success and penalising failure, which enables every individual to participate by his private decisions in shaping the future of his society.
- Enoch Powell
There exists no more democratic institution than the market.
- J.A. Schumpeter
The great advantage of the market is that is able to use the strength of self-interest to offset the weakness and partiality of benevolence, so that those who are unknown, unattractive or unimportant, will have their wants served.
- Adam Smith
- The Wealth of Nations.
I am convinced that if it [the market system] were the result of deliberate human design, and if the people guided by the price changes understood that their decisions have significance far beyond their immediate aim, this mechanism would have been acclaimed as one of the greatest triumphs of the human mind.
- Friedrich Hayek, Nobel Laureate
“The Use of Knowledge in Society,” American Economic Review 35 (September 1945), pp. 519–530.
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