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Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
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
Productive
Coming
Making
Process
Time
Outputs
Think
Inputs
Thinking
Output
Input
More quotes by Friedrich August von Hayek
The greatest danger to liberty today comes from the men who are most needed and most powerful in modern government, namely, the efficient expert administrators exclusively concerned with what they regard as the public good.
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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 seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
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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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Economic control is not merely control of a sector of human life which can be separated from the rest it is the control of the means for all our ends. And whoever has sole control of the means must also determine which ends are to be served, which values are to be rates higher and which lower, in short, what men should believe and strive for.
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It is not the source but the limitation of power which prevents it from being arbitrary.
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The moral consequences of totalitarian propaganda...are destructive of all morals because they undermind one of the foundations of all morals: the sense of and respect for truth.
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We shall never prevent the abuse of power if we are not prepared to limit power in a way which occasionally may prevent its use for desirable purposes.
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It used to be the boast of free men that, so long as they kept within the bounds of the known law, there was no need to ask anybody's permission or to obey anybody's orders. It is doubtful whether any of us can make this claim today.
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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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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.
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This is the constitutional limitation of man's knowledge and interests, the fact that he cannot know more than a tiny part of the whole of society and that therefore all that can enter into his motives are the immediate effects which his actions will have in the sphere he knows.
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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.
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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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Any man who is only an economist is unlikely to be a good one.
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I was quite depressed two weeks ago when I spent an afternoon at Brentano's Bookshop in New York and was looking at the kind of books most people read. That seems to be hopeless once you see that you lose all hope.
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To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies- these tasks provide a wide and unquestioned field for state activity.
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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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The idea of social justice is that the state should treat different people unequally in order to make them equal.
Friedrich August von Hayek
Nothing is more securely lodged than the ignorance of the experts.
Friedrich August von Hayek
