Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

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
Results
Market
Immediate
Decision
Result
Mechanism
Human
Changes
Significance
Humans
Understood
Triumph
Acclaimed
Mind
Design
Aim
Triumphs
Would
Beyond
Price
Aims
People
System
Decisions
Guided
Greatest
Convinced
Deliberate

More quotes by Friedrich August von Hayek

Image
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
Image
Capitalism created the possibility of employment.
Friedrich August von Hayek
Image
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Friedrich August von Hayek
Image
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
Image
The more I learn about the evolution of ideas, the more I have become aware that I am simply an unrepentant Old Whig-with the stress on the old.
Friedrich August von Hayek
Image
We must shed the illusion that we can deliberately 'create the future of mankind'
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
The mischievous idea that all public needs should be satisfied by compulsory organization and that all the means that individuals are willing to devote to pubic purposes should be under the control of government, is wholly alien to the basic principles of a free society.
Friedrich August von Hayek
Image
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
Image
This is the constitutional limitation of man's knowledge and interests, the fact that he cannot know more than a tiny part of the whole of society and that therefore all that can enter into his motives are the immediate effects which his actions will have in the sphere he knows.
Friedrich August von Hayek
Image
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
Image
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
Image
Personally I prefer a liberal dictator to democratic government lacking liberalism.
Friedrich August von Hayek
Image
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
Image
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
Image
To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies- these tasks provide a wide and unquestioned field for state activity.
Friedrich August von Hayek
Image
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.
Friedrich August von Hayek
Image
It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
Friedrich August von Hayek
Image
Once politics become a tug-of-war for shares in the income pie, decent government is impossible.
Friedrich August von Hayek
Image
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