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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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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
Prevents
Arbitrary
Limitation
Source
Power
More quotes by Friedrich August von Hayek
The problems raised by a conscious direction of economic affairs on a national scale inevitably assume even greater dimensions when the same is attempted internationally. The conflict between planning and freedom cannot but become more serious as the similarity of standards and values among those submitted to a unitary plan diminishes.
Friedrich August von Hayek
Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom.
Friedrich August von Hayek
The mind cannot foresee its own advance.
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
The great aim of the struggle for liberty has been equality before the law.
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
From the saintly and single-minded idealist to the fanatic is often but a step.
Friedrich August von Hayek
The power which a multiple millionaire, who may be my neighbor and perhaps my employer, has over me is very much less than that which the smallest functionaire possesses who wields the coercive power of the state, and on whose desecration it depends whether and how I am allowed to live or to work.
Friedrich August von Hayek
It may be that a free society... carries in itself the forces of its own destruction, that once freedom has been achieved it is taken for granted and ceases to be valued, and that the free growth of ideas which is the essence of a free society will bring about the destruction of the foundations on which it depends.
Friedrich August von Hayek
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
The younger generation of today has grown up in a world in which in school and press the spirit of commercial enterprise has been represented as disreputable and the making of profit as immoral, where to employ a hundred people is represented as exploitation but to command the same number as honorable.
Friedrich August von Hayek
It is only because the majority opinion will always be opposed by some that our knowledge and understanding progress... it is always from a minority acting in ways different from what the majority would prescribe that the majority in the end learns to do better.
Friedrich August von Hayek
Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
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
Socialism has never and nowhere been at first a working-class movement.
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
I was quite depressed two weeks ago when I spent an afternoon at Brentano's Bookshop in New York and was looking at the kind of books most people read. That seems to be hopeless once you see that you lose all hope.
Friedrich August von Hayek
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
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.
Friedrich August von Hayek
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
