Top 250 Quotes & Sayings by Friedrich August von Hayek - Page 2

Explore popular quotes and sayings by an Austrian economist Friedrich August von Hayek.
Last updated on December 25, 2024.
The state itself becomes more and more identified with the interests of those who run things than with the interests of the people in general.
Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and the enforcement of ideals and, as such, essential if central planning on a large scale is to be possible.
To discover the meaning of what is called "social justice" has been one of my chief preoccupations for more than 10 years. I have failed in this endeavour or rather, have reached the conclusion that, with reference to society of free men, the phrase has no meaning whatever.
The idea that human kind can shape the world according to wish is what I call the fatal conceit — © Friedrich August von Hayek
The idea that human kind can shape the world according to wish is what I call the fatal conceit
That democratic socialism, the great utopia of the last few generations, is not only unachievable, but that to strive for it produces something so utterly different that few of those who wish it would be prepared to accept the consequences, many will not believe until the connection has been laid bare in all its aspects.
Liberty and responsibility are inseparable.
... I prefer true but imperfect knowledge, even if it leaves much undetermined and unpredictable, to a pretense of exact knowledge that is likely to be false.
I have come to feel strongly that the greatest service I can still render to my fellow men would be that I could make the speakers and writers among them thoroughly ashamed ever again to employ the term "social justice.
With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.
Human reason can neither predict nor deliberately shape its own future. Its advances consist in finding out where it has been wrong.
We must shed the illusion that we can deliberately 'create the future of mankind'
The word "truth" itself ceases to have its old meaning. It describes no longer something to be found, with the individual conscience as the sole arbiter of whether in any particular instance the evidence (or the standing of those proclaiming it) warrants a belief; it becomes something to be laid down by authority, something which has to believed in the interest of unity of the organized effort and which may have to be altered as the exigencies of this organized effort require it.
Liberty is an opportunity for doing good, but this is only so when it is also an opportunity for doing wrong.
Without the rich - without those who accumulated capital - those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise.
The [classical] liberal, of course, does not deny that there are some superior people -- he is not an egalitarian -- but he denies that anyone has authority to decide who these superior people are.
The argument for liberty is not an argument against organization, which is one of the most powerful tools human reason can employ, but an argument against all exclusive, privileged, monopolistic organization, against the use of coercion to prevent others from doing better.
Economic control is not merely control of a sector of human life which can be separated from the rest; it is the control of the means for all our ends. And whoever has sole control of the means must also determine which ends are to be served, which values are to be rates higher and which lower, in short, what men should believe and strive for.
The more the state "plans" the more difficult planning becomes for the individual. — © Friedrich August von Hayek
The more the state "plans" the more difficult planning becomes for the individual.
Many who think themselves infinitely superior to the aberrations of Nazism, and sincerely hate all manifestations, work at the same time for ideals whose realization would lead straight to the abhorred tyranny.
[The] impersonal process of the market ... can be neither just nor unjust, because the results are not intended or foreseen.
When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
A society that does not recognise that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom.
Conservatism is only as good as what it conserves.
Socialism can only be put into practice only by methods which most socialists disapprove.
It seems to be almost a law of human nature that it is easier for people to agree on a negative program - on the hatred of an enemy, on the envy of those better off - than on any positive task.
Socialist thought owes its appeal to the young largely to its visionary character; the very courage to indulge in Utopian thought is in this respect a source of strength for socialism which traditional liberalism sadly lacks. Speculation about general principles provides an opportunity for the play of the imagination of those who are unencumbered by much knowledge of the facts of present-day life. Their ideas suffer from inherent contradictions, and any attempt to put them into practice must produce something utterly different from what they expect.
If the human intellect is allowed to impose a preconceived pattern on society, if our powers of reasoning are allowed to lay claim to a monopoly of creative effort... then we must not be surprised if society, as such, ceases to function as a creative force.
To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.
It is not the source but the limitation of power which prevents it from being arbitrary.
Unless we can make the philosophic foundations of a free society once more a living intellectual issue, and its implementation a task which challenges the ingenuity and imagination of our liveliest minds, the prospects of freedom are indeed dark. But if we can regain that belief in power of ideas which was the mark of liberalism at its best, the battle is not lost.
To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies- these tasks provide a wide and unquestioned field for state activity.
When we ask what ought to be the relative remunerations of a nurse or a butcher, or a coal miner and a judge at a high court, of the deep sea diver of the cleaner of sewers, of the organiser of a new industry and a jockey, of the inspector of taxes and the inventor of a life-saving drug, of the jet-pilot or the professor of mathematics, the appeal to 'social justice' does not give us the slightest help in deciding.
While an equality of rights under a limited government is possible and an essential condition of individual freedom, a claim for equality of material position can be met only by a government with totalitarian powers.
The guiding principle that a policy of freedom for the individual is the only truly progressive policy remains as true today as it was in the nineteenth century.
The Socratic maxim that the recognition of our ignorance is the beginning of wisdom has profound significance for our understanding of society. Most of the advantages of social life, especially in the more advanced forms that we call "civilization" rest on the fact that the individual benefits from more knowledge than he is aware of. It might be said that civilization begins when the individual in the pursuit of his ends can make use of more knowledge than he has himself acquired and when he can transcend the boundaries of his ignorance by profiting from knowledge he does not himself possess.
Once you admit that the individual is merely a means to serve the ends of the higher entity called society or the nation, most of those features of totalitarianism which horrify us follow of necessity
And it's a necessity [for journalists] to pretend to be competent on every subject, some of which they really do not understand. They are under that necessity, I regret; I'm sorry for them. But to pretend to understand all the things you write about, and habitually to write about things you do not understand, is a very corrupting thing.
I use throughout the term 'liberal' in the original, nineteenth-century sense in which it is still current in Britain. In current American usage it often means very nearly the opposite of this. It has been part of the camouflage of leftish movements in this country, helped by muddleheadedness of many who really believe in liberty, that 'liberal' has come to mean the advocacy of almost every kind of government control.
Never will man penetrate deeper into error than when he is continuing on a road which has led him to great success — © Friedrich August von Hayek
Never will man penetrate deeper into error than when he is continuing on a road which has led him to great success
Unlike liberalism, with its fundamental belief in the long-range power of ideas, conservatism is bound by the stock of ideas inherited at a given time. And since it does not really believe in the power of argument, its last resort is generally a claim to superior wisdom, based on some self-arrogated superior quality.
Each member of society can have only a small fraction of the knowledge possessed by all, and...each is therefore ignorant of most of the facts on which the working of society rests...civilization rests on the fact that we all benefit from knowledge which we do not possess. And one of the ways in which civilization helps us to overcome that limitation on the extent of individual knowledge is by conquering intelligence, not by the acquisition of more knowledge, but by the utilization of knowledge which is and which remains widely dispersed among individuals.
Everything which might cause doubt about the wisdom of the government or create discontent will be kept from the people. The basis of unfavorable comparisons with elsewhere, the knowledge of possible alternatives to the course actually taken, information which might suggest failure on the part of the government to live up to its promises or to take advantage of opportunities to improve conditions--all will be suppressed. There is consequently no field where the systematic control of information will not be practiced and uniformity of views not enforced.
Any man who is only an economist is unlikely to be a good one.
Wherever liberty as we understand it has been destroyed, this has almost always been done in the name of some new freedom promised to the people
It is perhaps the most characteristic feature of the intellectual that he judges new ideas not by their specific merits but by the readiness with which they fit into his general conceptions, into the picture of the world which he regards as modern or advanced.
We must shed the illusion that we can deliberately "create the future of mankind." This is the final conclusion of the forty years which I have now devoted to the study of these problems
It may be that a free society... carries in itself the forces of its own destruction, that once freedom has been achieved it is taken for granted and ceases to be valued, and that the free growth of ideas which is the essence of a free society will bring about the destruction of the foundations on which it depends.
It used to be the boast of free men that, so long as they kept within the bounds of the known law, there was no need to ask anybody's permission or to obey anybody's orders. It is doubtful whether any of us can make this claim today.
It is possible for a dictator to govern in a liberal way. And it is also possible for a democracy to govern with a total lack of liberalism. Personally I prefer a liberal dictator to democratic government lacking liberalism.
Competition means decentralized planning by many separate persons.
The mischievous idea that all public needs should be satisfied by compulsory organization and that all the means that individuals are willing to devote to pubic purposes should be under the control of government, is wholly alien to the basic principles of a free society.
Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.
Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any other known substitute for the market order could sustain the current population of the world.
It is only because the majority opinion will always be opposed by some that our knowledge and understanding progress... it is always from a minority acting in ways different from what the majority would prescribe that the majority in the end learns to do better.
There is only one '' principle that can preserve a free society: namely, the strict prevention of all coercion except in the enforcement of general abstract rules equally applicable to all.
We must show that liberty is not merely one particular value but that it is the source and condition of most moral values. What a free society offers to the individual is much more than what he would be able to do if only he were free. We can therefore not fully appreciate the value of freedom until we know how a society of free men as a whole differs from one in which unfreedom prevails.
This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be done centrally, by one authority for the whole economic system, or is to be divided among many individuals.
Freedom necessarily means that many things will be done which we do not like. — © Friedrich August von Hayek
Freedom necessarily means that many things will be done which we do not like.
The conception that government should be guided by majority opinion makes sense only if that opinion is independent of government. The ideal of democracy rests on the belief that the view which will direct government emerges from an independent and spontaneous process. It requires, therefore, the existence of a large sphere independent of majority control in which the opinions of the individuals are formed.
Capitalism created the possibility of employment.
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