Quote

Hayek was making us think of the productive process as a process in time, inputs coming before outputs.

Friedrich August von Hayek

Change background

T
T
T

Change font

TAGS & TOPICS

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
Thinking
Output
Input
Productive
Coming
Making
Process
Time
Outputs
Think
Inputs

More quotes by Friedrich August von Hayek

Image
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.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
This means that to entrust to science - or to deliberate control according to scientific principles - more than scientific method can achieve may have deplorable effects.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
I am certain, however, that nothing has done so much to destroy the juridical safeguards of individual freedom as the striving after this mirage of social justice.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
[The] impersonal process of the market ... can be neither just nor unjust, because the results are not intended or foreseen.
Friedrich August von Hayek
Image
[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.
Friedrich August von Hayek
Image
Unlike proportionality, progression provides no principle which tells us what the relative burden of different persons ought to be the argument based on the presumed justice of progression provides no limitation, as has often been admitted by its supporters, before all incomes above a certain figure are confiscated, and those below left untaxed.
Friedrich August von Hayek
Image
The problems raised by a conscious direction of economic affairs on a national scale inevitably assume even greater dimensions when the same is attempted internationally. The conflict between planning and freedom cannot but become more serious as the similarity of standards and values among those submitted to a unitary plan diminishes.
Friedrich August von Hayek
Image
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
Image
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
Image
The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.
Friedrich August von Hayek
Image
It is because freedom means the renunciation of direct control of individual efforts that a free society can make use of so much more knowledge than the mind of the wisest ruler could comprehend.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
We can either have a free Parliament or a free people. Personal freedom requires that all authority is restrained by long-run principles which the opinion of the people approves.
Friedrich August von Hayek
Image
If we can reduce the risk of friction likely to lead to war, this is probably all we can reasonably hope to achieve.
Friedrich August von Hayek