Phrase by 'Friedrich August von Hayek'
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Author: Friedrich August von Hayek - Austrian EconomistKnow , Men , Finance , Economics
We shall not grow wiser before we learn that much that we have done was very foolish.
Author: Friedrich August von Hayek - Austrian EconomistExperience , Grow , Done , Foolish
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.
Author: Friedrich August von Hayek - Austrian EconomistNew , Result , Equality , Determination
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Author: Friedrich August von Hayek - Austrian EconomistAlways , Freedom , Individual , Liberty
We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.
Author: Friedrich August von Hayek - Austrian EconomistFreedom , Justice , Satisfaction , Face
We know, in other words, the general conditions in which what we call, somewhat misleadingly, an equilibrium will establish itself: but we never know what the particular prices or wages are which would exist if the market were to bring about such an equilibrium.
Author: Friedrich August von Hayek - Austrian EconomistNever , Know , Words , Will
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.
Author: Friedrich August von Hayek - Austrian EconomistFree , Society , Wish , Use
A claim for equality of material position can be met only by a government with totalitarian powers.
Author: Friedrich August von Hayek - Austrian EconomistOnly , Position , Equality , Government
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.
Author: Friedrich August von Hayek - Austrian EconomistUnderstand , Freedom , Voting , Government
Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?
Author: Friedrich August von Hayek - Austrian EconomistFacts , Ignorance , Information , Economics
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