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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

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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
Probably
Hope
Friction
War
Reasonably
Reduce
Likely
Lead
Achieve
Risk

More quotes by Friedrich August von Hayek

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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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Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
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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.
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If we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion.
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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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.
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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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The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the competitive success that could only be achieved by the deliberate direction of a senior management that possesses the combined knowledge of all employees and contractors
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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.
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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 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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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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The attitude of the liberal towards society is like that of the gardener who tends a plant and, in order to create the conditions most favorable to its growth, must know as much as possible about its structure and the way it functions.
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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Once wide coercive powers are given to governmental agencies for particular purposes, such powers cannot be effectively controlled by democratic assemblies.
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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
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The Nobel Prize confers on an individual an authority which in economics no man ought to possess.
Friedrich August von Hayek
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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
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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