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The ultimate decision about what is accepted as right and wrong will be made not by individual human wisdom but by the disappearance of the groups that have adhered to the wrong beliefs.

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
Thinking
Wrong
Beliefs
Faith
Accepted
Individual
Ultimate
Government
Groups
Human
Liberty
Humans
Decision
Right
Wisdom
Adhered
Made
Belief
Disappearance

More quotes by Friedrich August von Hayek

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We certainly do not regard it as right that the citizens of a large country should dominate those of a small adjoining country merely because they are more numerous.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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The great aim of the struggle for liberty has been equality before the law.
Friedrich August von Hayek
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It may be that a free society... carries in itself the forces of its own destruction, that once freedom has been achieved it is taken for granted and ceases to be valued, and that the free growth of ideas which is the essence of a free society will bring about the destruction of the foundations on which it depends.
Friedrich August von Hayek
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It is not the source but the limitation of power which prevents it from being arbitrary.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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No human mind can comprehend all the knowledge which guides the actions of society.
Friedrich August von Hayek
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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
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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
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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
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We must shed the illusion that we can deliberately create the future of mankind. This is the final conclusion of the forty years which I have now devoted to the study of these problems
Friedrich August von Hayek
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To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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If democracy is a means rather than an end, its limits must be determined in the light of the purpose we want it to serve.
Friedrich August von Hayek
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Socialism can only be put into practice only by methods which most socialists disapprove.
Friedrich August von Hayek
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Nothing is more securely lodged than the ignorance of the experts.
Friedrich August von Hayek
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As is true with respect to other great evils, the measures by which war might be made altogether impossible for the future may well be worse than even war itself.
Friedrich August von Hayek
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Once politics become a tug-of-war for shares in the income pie, decent government is impossible.
Friedrich August von Hayek