Friedrich August von Hayek
Economist Austria 1899–1992
19 quotes in the archive
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We have indeed at the moment little cause for pride: as a profession we have made a mess of things.
Even the striving for equality by means of a directed economy can result only in an officially enforced inequality - an authoritarian determination of the status of each individual in the new hierarchical order.
A claim for equality of material position can be met only by a government with totalitarian powers.
Friedrich August von Hayek
We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.
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.
Friedrich August von Hayek
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.
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.
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
Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.
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.
Friedrich August von Hayek
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.