A Quote by Friedrich August von Hayek

There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess. — © Friedrich August von Hayek
There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.
My view... would be that we are entering upon a new and interim society which is neither capitalist nor socialist, but in which we can achieve central planning without loss of individual initiative, by the mere process of absorbing initiative in the function of planning.
The society which we have built can in no way be termed "state socialism."The social organization which we have created can be termed a Soviet, socialist organization which has not yet been quite completed, but is in its root a socialist organization of society. The foundation of this society is public ownership.
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.
This most dangerous enemy is the American counterpart of the British Fabian Socialist, who denies that he is a Socialist and operates behind a mask which he calls National Planning.
As usurpation is the exercise of power which another has a right to, so tyranny is the exercise of power beyond right, which nobody can have a right to.
To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.
I remained a socialist for several years, even after my rejection of Marxism; and if there could be such a thing as socialism combined with individual liberty, I would be a socialist still. For nothing could be better than living a modest, simple, and free life in an egalitarian society.
If you understood what communism was, you would hope, you would pray on your knees that we would some day become communist. . . . I, a socialist, think that we should strive toward a socialist society, all the way to communism.
Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity.
In socialist society certain inequalities in property still exist. But in socialist society there is no longer unemployment, no exploitation, no oppression of nationalities. In socialist society everyone is obliged to work, although he does not, in return for his labour receive according to his requirements, but according to the quantity and quality of the work he has performed.
Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom. Even though the men who wield this power initially be of good will and even though they be not corrupted by the power they exercise, the power will both attract and form men of a different stamp.
The President can exercise no power which cannot be fairly and reasonably traced to some specific grant of power in the Federal Constitution or in an act of Congress passed in pursuance thereof. There is no undefined residuum of power which he can exercise because it seems to him to be in the public interest.
Power is very much like the wind. It comes and goes; no one really owns it. People are foolish enough to think they possess power. You don't possess power, power possesses you. Power uses you.
A certain inequality in regard to property still exists in a socialist society. But in a socialist society there is no unemployment, no exploitation, no oppression of nationalities.
Taken as a whole, the Chinese revolutionary movement led by the Communist Party embraces the two stages, i.e., the democratic and the socialist revolutions, which are two essentially different revolutionary processes, and the second process can be carried through only after the first has been completed. The democratic revolution is the necessary preparation for the socialist revolution, and the socialist revolution is the inevitable sequel to the democratic revolution. The ultimate aim for which all communists strive is to bring about a socialist and communist society.
Men are not corrupted by the exercise of power or debased by the habit of obedience, but by the exercise of a power which they believe to be illegal and by obedience to a rule which they consider to be usurped and oppressive.
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