The Mind Cannot Foresee Its Own Advance.

It Would Clearly Not Be An Improvement To Build All Houses Exactly Alike In Order To Create A Perfect Market For Houses, And The Same Is True Of Most Other Fields Where Differences Between The Individual Products Prevent Competition From Ever Being Perfect.

We Know, In Other Words, The General Conditions In Which What We Call, Somewhat Misleadingly, An Equilibrium Will Establish Itself: But We Never Know What The Particular Prices Or Wages Are Which Would Exist If The Market Were To Bring About Such An Equilibrium.

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.

We Have Indeed At The Moment Little Cause For Pride: As A Profession We Have Made A Mess Of Things.

A Claim For Equality Of Material Position Can Be Met Only By A Government With Totalitarian Powers.