Friedrich Hayek
Champion of classical liberalism, Road to Serfdom
Most quoted
"The marvel is that in a case like that of a scarcity of one raw material, without an order being issued, without more than perhaps a handful of people knowing the cause, tens of thousands of people whose identity could not be ascertained by months of investigation, are made to use the material or its products more sparingly."
— from The Use of Knowledge in Society, 1945
"I am convinced that if it 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 aim, this mechanism would have been acclaimed as one of the greatest triumphs of the human mind."
— from The Use of Knowledge in Society, 1945
"The argument for liberty is not an argument against organization, which is one of the most powerful tools human reason can employ, but an argument against all exclusive, privileged, monopolistic organization, against the use of coercion to prevent others from trying to do better."
— from The Constitution of Liberty, 1960
All quotes by Friedrich Hayek (235)
The rules of just conduct which the lawyer studies serve a kind of order of the actions of free individuals which is generally called 'spontaneous'.
The claim for equality of material position can be met only by a government with totalitarian powers.
The preservation of a free system is so difficult precisely because it requires a constant rejection of measures which appear to be required to secure particular results.
The most important fact about progressive societies is that most of the things which individuals strive for can be obtained only through further progress.
The ultimate ends of the activities of reasonable beings are never economic.
The delegation of particular technical tasks to separate bodies, while a regular feature, is yet only the first step in the process whereby a democracy which embarks on planning progressively relinquishes its powers.
The 'social goal', or 'common purpose', for which society is to be organized is usually vaguely described as the 'common good', the 'general welfare', or the 'general interest'.
The more we try to provide full security by interfering with the market system, the greater the insecurity becomes.
The power which a multiple millionaire, who may be my neighbour 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.
The conception of the common welfare for which in a democracy the majority will decide must remain a vague conception.
The most important change which extensive government control produces is a psychological change, an alteration in the character of the people.
The will of a small minority may be imposed upon the people by those who have been elected to do something different.
The belief that power can be made harmless by concentrating it, and that control over the use of power can be assured by dividing it, is a delusion.
The economist is the trustee, not of any particular interest, but of the principle of efficiency in the use of resources.
The fatal mistake of socialism is that it fails to understand the price system.
Contemporaries of Friedrich Hayek
Other Economicss born within 50 years of Friedrich Hayek (1899–1992).