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It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.

Friedrich August von Hayek

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Friedrich August von Hayek
Age: 92 †
Born: 1899
Born: May 8
Died: 1992
Died: March 23
Economist
Historian
Philosopher
Political Scientist
University Teacher
Vienna
Austria
Friedrich August von Hayek
Friedrich von Hayek
Friedrich A. von Hayek
Friedrich A. Von Hayek
F. A. von Hayek
Friedrich August Von Hayek
Hayek
F. A. Hayek
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Importance
Ends
Resources
Problem
Members
Best
Whose
Known
Society
Relative
Rather
Individuals
Individual
Secure

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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.
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Independence of mind or strength of character is rarely found among those who cannot be confident that they will make their way by their own effort.... Indeed, when security is understood in too absolute a sense, the general striving for it, far from increasing the chances of freedom, becomes the greatest threat to it.
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The Germans would appear as the disturbers of peace, as they already do to some people, merely because they were the first to take the path along which all the others were ultimately to follow.
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The conservative feels safe and content only if he is assured that some higher wisdom watches and supervises change, only if he knows that some authority is charged with keeping the change orderly.
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There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.
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No human mind can comprehend all the knowledge which guides the actions of society.
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Our moral traditions developed concurrently with our reason, not as its product.
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We know: of course, with regard to the market and similar social structures, a great many facts which we cannot measure and on which indeed we have only some very imprecise and general information.
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Liberty is an opportunity for doing good, but this is only so when it is also an opportunity for doing wrong.
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It is of the essence of the demand for equality before the law that people should be treated alike in spite of the fact that they are different.
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Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power.
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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.
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The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.
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When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
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At a time when most movements that are thought to be progressive advocate further encroachments on individual liberty, those who cherish freedom are likely to expend their energies in opposition. In this they find themselves much of the time on the same side as those who habitually resist change.
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Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?
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Least of all shall we preserve democracy or foster its growth if all the power and most of the important decisions rest with an organization far too big for the common man to survey or comprehend.
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Once wide coercive powers are given to governmental agencies for particular purposes, such powers cannot be effectively controlled by democratic assemblies.
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If freedom is to flourish the philosophic foundations of a free society must be kept a living intellectual issue and its implementation a task which challenges the ingenuity and imagination of the liveliest minds.
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