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At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world. Because knowledge is dispersed, power must be as well.

George Gilder

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George Gilder
Age: 84
Born: 1939
Born: November 29
Economist
Philosopher
Writer
New York City
New York
Must
Leader
Unification
Real
Knowledge
Disregard
Important
Given
Assume
Heart
School
Assuming
Mind
Power
Economics
World
Wells
Significant
Friedrich
Everything
Capitalism
Austrian
Well
Single
Dispersed

More quotes by George Gilder

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But if the 1 percent and the 0.1 percent are respected and allowed to risk their wealth - and new rebels are allowed to rise up and challenge them - America will continue to be the land where the last regularly become the first by serving others.
George Gilder
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Unlike femininity, relaxed masculinity is at bottom empty, a limp nullity. While the female body is full of internal potentiality, the male is internally barren. Manhood at the most basic level can be validated and expressed only in action.
George Gilder
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Capitalism begins with giving.
George Gilder
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Entropy is Janus-faced. Its upside surprises are redemptive and favorable to freedom. It is freedom of choice. But the carrier itself requires constant vigilance against entropic noise. Order is not spontaneous, but it is a necessary condition for all the surprises of freedom and opportunity.
George Gilder
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Wealth usually comes from doing what other people find insufferably boring.
George Gilder
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A policy of subsidizing failures will end in an economy strewn with capital-guzzling industries long past their time of profitability - old companies that cannot create jobs themselves, but can stand in the way of job creation.
George Gilder
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Entrepreneurial creation is the generation, de novo, of novelty and surprise- freedom of choice originating in the world of ideas, and imagination beyond all concern with chemicals. The contrary view- that all ideas are determined by material relationships- is the materialist superstition.
George Gilder
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Real poverty is less a state of income than a state of mind.
George Gilder
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Capitalists are motivated not chiefly by the desire to consume wealth or indulge their appetites, but by the freedom and power to consummate their entrepreneurial ideas.
George Gilder
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On every continent and in every epoch the peoples who have excelled in creating wealth have been the victims of some of society's greatest brutalities.
George Gilder
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Nothing is more deadly to achievement than the belief that effort will not be rewarded, that the world is a bleak and discriminatory place in which only the predatory and the specially preferred can get ahead.
George Gilder
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Television is not vulgar because people are vulgar it is vulgar because people are similar in their prurient interests and sharply differentiated in their civilized concerns.
George Gilder
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Entrepreneurial knowledge has little to do with certified expertise, advanced degrees, or the learning of establishment schools. The fashionably educated and cultivated spurn the kind of fanatically focused learning commanded by the innovators. Wealth all too often comes from doing what other people consider insufferably boring or unendurably hard.
George Gilder
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People cannot be expected to learn one expertise and just apply it routinely in a job. Your expertise is in steadily renewing your knowledge base and extending it to new areas. That lifelong cycle of learning really is the foundation of the new information organization and economy.
George Gilder
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Hatred of producers of wealth still flourishes and has become, in fact, the racism of the intelligentsia.
George Gilder
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Entrepreneurship is the launching of surprises.
George Gilder
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The differences between the sexes are the single most important fact of human society.
George Gilder
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The prevailing theory of capitalism suffers from one central and disabling flaw, a profound distrust and incomprehension of capitalism.
George Gilder
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The rates of taxation climb and the levels of capital decline, until the only remaining wealth beyond the reach of the regime is the very protein of human flesh, and that too is finally taxed, bound, and gagged, and brought to the colossal temple of the state - a final sacrifice of carnal revenue to feed the declining elite.
George Gilder
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Surely women's liberation is a most unpromising panacea. But the movement is working politically, because our sexuality is so confused, our masculinity so uncertain, and our families so beleaguered that no one knows what they are for or how they are sustained.
George Gilder