Friedrich August von Hayek
Friedrich August von Hayek
Friedrich Hayek CH, born in Austria-Hungary as Friedrich August von Hayek and frequently referred to as F. A. Hayek, was an Austrian and British economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena."...
NationalityAustrian
ProfessionEconomist
Date of Birth8 May 1899
CountryAustria
Friedrich August von Hayek quotes about
The more the state "plans" the more difficult planning becomes for the individual.
[Socialistic] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most power-hungry and unscrupulous.
A claim for equality of material position can be met only by a government with totalitarian powers.
From the fact that people are very different it follows that, if we treat them equally, the result must be inequality in their actual position, and that the only way to place them in an equal position would be to treat them differently. Equality before the law and material equality are therefore not only different but are in conflict with each other; and we can achieve either one or the other, but not both at the same time
Liberty and responsibility are inseparable.
Conservatism is only as good as what it conserves.
If the human intellect is allowed to impose a preconceived pattern on society, if our powers of reasoning are allowed to lay claim to a monopoly of creative effort... then we must not be surprised if society, as such, ceases to function as a creative force.
The word 'truth' itself ceases to have its old meaning. It describes no longer something to be found, with the individual conscience as the sole arbiter of whether in any particular instance the evidence (or the standing of those proclaiming it) warrants a belief; it becomes something to be laid down by authority, something which has to believed in the interest of unity of the organized effort and which may have to be altered as the exigencies of this organized effort require it.
Few are ready to recognize that the rise of fascism and naziism was not a reaction against the socialist trends of the preceding period but a necessary outcome of those tendencies.
Socialism is simply a re-assertion of that tribal ethics whose gradual weakening had made an approach to the Great Society possible.
I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.
Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and the enforcement of ideals and, as such, essential if central planning on a large scale is to be possible.
While an equality of rights under a limited government is possible and an essential condition of individual freedom, a claim for equality of material position can be met only by a government with totalitarian powers.
Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.