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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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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
Create
Forty
Future
Final
Problem
Finals
Must
Conclusion
Years
Illusion
Mankind
Deliberately
Problems
Shed
Study
Devoted

More quotes by Friedrich August von Hayek

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Capitalism created the possibility of employment.
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Once politics become a tug-of-war for shares in the income pie, decent government is impossible.
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It is neither necessary nor desirable that national boundaries should mark sharp differences in standards of living, that membership of a national group should entitle to a share in a cake altogether different from that in which members of other groups share.
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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.
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The [classical] liberal, of course, does not deny that there are some superior people -- he is not an egalitarian -- but he denies that anyone has authority to decide who these superior people are.
Friedrich August von Hayek
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When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
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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 idea of social justice is that the state should treat different people unequally in order to make them equal.
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Nothing is more securely lodged than the ignorance of the experts.
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I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.
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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
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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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
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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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At a time when most movements that are thought to be progressive advocate further encroachments on individual liberty, those who cherish freedom are likely to expend their energies in opposition. In this they find themselves much of the time on the same side as those who habitually resist change.
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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There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.
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If socialists understood economics, they wouldn't be socialist.
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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