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The more the state plans the more difficult planning becomes for the individual.

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
States
Planning
Plans
Becomes
State
Individual
Difficult

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From the saintly and single-minded idealist to the fanatic is often but a step.
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Socialism can only be put into practice only by methods which most socialists disapprove.
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Our moral traditions developed concurrently with our reason, not as its product.
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If we can reduce the risk of friction likely to lead to war, this is probably all we can reasonably hope to achieve.
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[Socialistic] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most power-hungry and unscrupulous.
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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.
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Socialism has never and nowhere been at first a working-class movement.
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The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the competitive success that could only be achieved by the deliberate direction of a senior management that possesses the combined knowledge of all employees and contractors
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The chief point we must remember is that the great and rapid advance of the physical sciences took place in fields where it proved that explanation and prediction could be based on laws which accounted for the observed phenomena as functions of comparatively few variables - either particular facts or relative frequencies of events.
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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.
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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
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What a free society offers to the individual is much more than what he would be able to do if only he were free.
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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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Perhaps even more than elsewhere current notions of what is desirable and practicable are here still of a kind which may well produce the opposite of what they promise.
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If socialists understood economics, they wouldn't be socialist.
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Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
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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.
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There may be few instances in which the superstition that only measurable magnitudes can be important has done positive harm in the economic field: but the present inflation and employment problems are a very serious one.
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I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.
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