"In economics it often appears that a lot of this unmanaged and unguided individual activity leads to aggregate results that are not too bad, indeed about as good as could be expected if somebody took command and figured out what ought to be done and had a way to get everybody to do what he was supposed to do." Page 22.

"'Market' is meant as the entire complex of institutions within which people buy and sell and hire and are hired and borrow and lend and trade and contract and shop around to find bargains." Page 23.

"What the market is often so good at doing is only part of what happens in the market. While coordinating activities efficiently, the market may produce a distribution of income that you and I do not like, either in general, or just because of where it leaves us. This is why I invited...