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There may be few instances in which the superstition that only measurable magnitudes can be important has done positive harm in the economic field: but the present inflation and employment problems are a very serious one.
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
The Germans would appear as the disturbers of peace, as they already do to some people, merely because they were the first to take the path along which all the others were ultimately to follow.
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We must shed the illusion that we can deliberately 'create the future of mankind'
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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.
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Socialism has never and nowhere been at first a working-class movement.
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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.
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Never will man penetrate deeper into error than when he is continuing on a road which has led him to great success
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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?
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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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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
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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.
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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.
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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 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
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The conservative feels safe and content only if he is assured that some higher wisdom watches and supervises change, only if he knows that some authority is charged with keeping the change orderly.
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Any man who is only an economist is unlikely to be a good one.
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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.
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It is perhaps the most characteristic feature of the intellectual that he judges new ideas not by their specific merits but by the readiness with which they fit into his general conceptions, into the picture of the world which he regards as modern or advanced.
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When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
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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.
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The mind cannot foresee its own advance.
Friedrich August von Hayek
