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Capitalism created the possibility of employment.

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
Employment
Capitalism
Created
Possibility

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With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.
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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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The greatest danger to liberty today comes from the men who are most needed and most powerful in modern government, namely, the efficient expert administrators exclusively concerned with what they regard as the public good.
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Independence of mind or strength of character is rarely found among those who cannot be confident that they will make their way by their own effort.... Indeed, when security is understood in too absolute a sense, the general striving for it, far from increasing the chances of freedom, becomes the greatest threat to it.
Friedrich August von Hayek
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It is not the source but the limitation of power which prevents it from being arbitrary.
Friedrich August von Hayek
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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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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.
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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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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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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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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.
Friedrich August von Hayek
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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.
Friedrich August von Hayek
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Liberty'''.that condition of man in which coercion of some by others is reduced as much as possible in society
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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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.
Friedrich August von Hayek
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The state itself becomes more and more identified with the interests of those who run things than with the interests of the people in general.
Friedrich August von Hayek
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Once politics become a tug-of-war for shares in the income pie, decent government is impossible.
Friedrich August von Hayek
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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
Friedrich August von Hayek
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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
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'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Friedrich August von Hayek