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Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power.

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
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More quotes by Friedrich August von Hayek

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And it's a necessity [for journalists] to pretend to be competent on every subject, some of which they really do not understand. They are under that necessity, I regret I'm sorry for them. But to pretend to understand all the things you write about, and habitually to write about things you do not understand, is a very corrupting thing.
Friedrich August von Hayek
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A claim for equality of material position can be met only by a government with totalitarian powers.
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 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.
Friedrich August von Hayek
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Through the inevitable mismanagement of resources and goods at the disposal of the state, all forms of collectivism lead eventually to tyranny.
Friedrich August von Hayek
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... I prefer true but imperfect knowledge, even if it leaves much undetermined and unpredictable, to a pretense of exact knowledge that is likely to be false.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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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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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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Freedom necessarily means that many things will be done which we do not like.
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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I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation.
Friedrich August von Hayek
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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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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.
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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Without a theory the facts are silent.
Friedrich August von Hayek
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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
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Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?
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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When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
Friedrich August von Hayek