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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.

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
Break
Tasks
Monopolies
Possible
Wide
Monopoly
State
Field
Fraud
States
Competition
Deception
Fields
Prevent
Activity
Investing
Conditions
Effective
Create
Provide
Unquestioned

More quotes by Friedrich August von Hayek

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The chief difference [between totalitarian and free countries] is that only the totalitarians appear clearly to know how they want to achieve that result, while the free world has only its past achievements to show, being by its very nature unable to offer any detailed plan for further growth.
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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
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Socialism can only be put into practice only by methods which most socialists disapprove.
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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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
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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
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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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...the case for individual freedom rests largely on the recognition of the inevitable and universal ignorance of all of us concerning a great many of the factors on which the achievements of our ends and welfare depend.
Friedrich August von Hayek
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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
Friedrich August von Hayek
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[The] impersonal process of the market ... can be neither just nor unjust, because the results are not intended or foreseen.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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If socialists understood economics, they wouldn't be socialist.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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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
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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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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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Without the rich - without those who accumulated capital - those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise.
Friedrich August von Hayek
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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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No human mind can comprehend all the knowledge which guides the actions of society.
Friedrich August von Hayek
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Unlike liberalism, with its fundamental belief in the long-range power of ideas, conservatism is bound by the stock of ideas inherited at a given time. And since it does not really believe in the power of argument, its last resort is generally a claim to superior wisdom, based on some self-arrogated superior quality.
Friedrich August von Hayek