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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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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
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More quotes by Friedrich August von Hayek
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
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
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
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
Liberty and responsibility are inseparable.
Friedrich August von Hayek
It is possible for a dictator to govern in a liberal way. And it is also possible for a democracy to govern with a total lack of liberalism. Personally I prefer a liberal dictator to democratic government lacking liberalism.
Friedrich August von Hayek
Nothing is more securely lodged than the ignorance of the experts.
Friedrich August von Hayek
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.
Friedrich August von Hayek
Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and the enforcement of ideals and, as such, essential if central planning on a large scale is to be possible.
Friedrich August von Hayek
[Socialistic] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most power-hungry and unscrupulous.
Friedrich August von Hayek
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.
Friedrich August von Hayek
The effect of the people's agreeing that there must be central planning, without agreeing on the ends, will be rather as if a group of people were to commit themselves to take a journey together without agreeing where they want to go with the result that they may all have to make a journey which most of them do not want at all.
Friedrich August von Hayek
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
That democratic socialism, the great utopia of the last few generations, is not only unachievable, but that to strive for it produces something so utterly different that few of those who wish it would be prepared to accept the consequences, many will not believe until the connection has been laid bare in all its aspects.
Friedrich August von Hayek
Once wide coercive powers are given to governmental agencies for particular purposes, such powers cannot be effectively controlled by democratic assemblies.
Friedrich August von Hayek
Personally I prefer a liberal dictator to democratic government lacking liberalism.
Friedrich August von Hayek
The Nobel Prize confers on an individual an authority which in economics no man ought to possess.
Friedrich August von Hayek
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
... 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
I am convinced that if the market system were the result of deliberate human design, and if the people guided by the price changes understood that their decisions have significance far beyond their immediate aims, this mechanism would have been acclaimed as one of the greatest triumphs of the human mind.
Friedrich August von Hayek
