Words matter. These are the best Friedrich August von Hayek Quotes, and they’re great for sharing with your friends.
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.
We know: of course, with regard to the market and similar social structures, a great many facts which we cannot measure and on which indeed we have only some very imprecise and general information.
‘Emergencies’ have always been the pretext on which the safeguards of individual liberty have been eroded.
This means that to entrust to science – or to deliberate control according to scientific principles – more than scientific method can achieve may have deplorable effects.
It can hardly be denied that such a demand quite arbitrarily limits the facts which are to be admitted as possible causes of the events which occur in the real world.
We shall not grow wiser before we learn that much that we have done was very foolish.
The credit which the apparent conformity with recognized scientific standards can gain for seemingly simple but false theories may, as the present instance shows, have grave consequences.
The mind cannot foresee its own advance.
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.
Intellects whose desires have outstripped their understanding.
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.
If most people are not willing to see the difficulty, this is mainly because, consciously or unconsciously, they assume that it will be they who will settle these questions for the others, and because they are convinced of their own capacity to do this.
I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
If we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion.
A claim for equality of material position can be met only by a government with totalitarian powers.
Our moral traditions developed concurrently with our reason, not as its product.
We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.
I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions.
I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
