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The progress of the natural sciences in modern times has of course so much exceeded all expectations that any suggestion that there may be some limits to it is bound to arouse suspicion.
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
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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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More quotes by Friedrich August von Hayek
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.
Friedrich August von Hayek
Socialism can only be put into practice only by methods which most socialists disapprove.
Friedrich August von Hayek
Once politics become a tug-of-war for shares in the income pie, decent government is impossible.
Friedrich August von Hayek
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.
Friedrich August von Hayek
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?
Friedrich August von Hayek
What a free society offers to the individual is much more than what he would be able to do if only he were free.
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
Friedrich August von Hayek
The attitude of the liberal towards society is like that of the gardener who tends a plant and, in order to create the conditions most favorable to its growth, must know as much as possible about its structure and the way it functions.
Friedrich August von Hayek
We shall all be the gainers if we can create a world fit for small states to live in.
Friedrich August von Hayek
It is neither necessary nor desirable that national boundaries should mark sharp differences in standards of living, that membership of a national group should entitle to a share in a cake altogether different from that in which members of other groups share.
Friedrich August von Hayek
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.
Friedrich August von Hayek
Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
Friedrich August von Hayek
The younger generation of today has grown up in a world in which in school and press the spirit of commercial enterprise has been represented as disreputable and the making of profit as immoral, where to employ a hundred people is represented as exploitation but to command the same number as honorable.
Friedrich August von Hayek
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.
Friedrich August von Hayek
Whenever it is necessary that one of several conflicting opinions should prevail and when one would have to be made to prevail by force if need be, it is less wasteful to determine which has the stronger support by counting numbers than by fighting.
Friedrich August von Hayek
When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
Friedrich August von Hayek
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.
Friedrich August von Hayek
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.
Friedrich August von Hayek
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.
Friedrich August von Hayek
Capitalism created the possibility of employment.
Friedrich August von Hayek