Friedrich Hayek Quotes

188 Sourced Quotes

What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for those who own property, but scarcely less for those who do not. It is only because the control of the means of production is divided among many people acting independently that nobody has complete power over us, that we as individuals can decide what to do with ourselves.

Friedrich Hayek
To live and work successfully with others requires more than faithfulness to one's concrete aims. It requires an intellectual commitment to a type of order in which, even on issues which to one are fundamental, others are allowed to pursue different ends. It is for this reason that to the liberal neither moral nor religious ideals are proper objects of coercion, while both conservatives and socialists recognize no such limits.

Friedrich Hayek
It is when it is contended that "in a democracy right is what the majority makes it to be" that democracy degenerates into demagoguery.

Friedrich Hayek
Unlike proportionality, progression provides no principle which tells us what the relative burden of different persons ought to be the argument based on the presumed justice of progression provides no limitation, as has often been admitted by its supporters, before all incomes above a certain figure are confiscated, and those below left untaxed.

Friedrich Hayek
By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point which the majority have reached.

Friedrich Hayek
The economic freedom which is the prerequisite of any other freedom cannot be the freedom from economic care which the socialist promise us, and which can be obtained only by relieving the individual at the same time of the necessity and of the power of choice: it must be the freedom of economic activity which, with the right of choice, inevitably also carries the risk and the responsibility of that right

Friedrich Hayek
If the resources of different nations are treated as exclusive properties of these nations as wholes, if international economic relations, instead of being relations between individuals, become increasingly relations between whole nations organized as trading bodies, they inevitably become the source of friction and envy between whole nations.

Friedrich Hayek
In any society freedom of thought will probably be of direct significance for a small minority. But this does not mean that anyone is competent, or ought to have power, to select those to whom this freedom is to be reserved.

Friedrich Hayek
It is not the source but the limitation of power which prevents it from being
arbitrary.

Friedrich Hayek
The social sciences, like much of biology but unlike most fields of the physical sciences, have to deal with structures of essential complexity, i.e. with structures whose characteristic properties can be exhibited only by models made up of relatively large numbers of variables.

Friedrich Hayek
We have indeed at the moment little cause for pride: as a profession we have made a mess of things.

Friedrich Hayek
We can either have a free Parliament or a free people. Personal freedom requires that all authority is restrained by long-run principles which the opinion of the people approves.

Friedrich Hayek
Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power.

Friedrich Hayek
The more I learn about the evolution of ideas, the more I have become aware that I am simply an unrepentant Old Whig-with the stress on the "old.

Friedrich Hayek
A policy of freedom for the individual is the only truly progressive policy.

Friedrich Hayek
Wherever liberty as we understand it has been destroyed, this has almost always been done in the name of some new freedom promised to the people

Friedrich Hayek
Unlike liberalism, with its fundamental belief in the long-range power of ideas, conservatism is bound by the stock of ideas inherited at a given time. And since it does not really believe in the power of argument, its last resort is generally a claim to superior wisdom, based on some self-arrogated superior quality.

Friedrich Hayek
At a time when most movements that are thought to be progressive advocate further encroachments on individual liberty, those who cherish freedom are likely to expend their energies in opposition. In this they find themselves much of the time on the same side as those who habitually resist change.

Friedrich Hayek
I am still puzzled why those in the United States who truly believe in liberty should not only have allowed the left to appropriate this almost indispensable term but should even have assisted by beginning to use it themselves as a term of opprobrium. This seems to be particularly regrettable because of the consequent tendency of many true liberals to describe themselves as conservatives.

Friedrich Hayek
Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any other known substitute for the market order could sustain the current population of the world.

Friedrich Hayek
To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about.

Friedrich Hayek
Never will man penetrate deeper into error than when he is continuing on a road which has led him to great success

Friedrich Hayek
Unlike the position that exists in the physical sciences, in economics and other disciplines that deal with essentially complex phenomena, the aspects of the events to be accounted for about which we can get quantitative data are necessarily limited and may not include the important ones.

Friedrich Hayek
It is neither necessary nor desirable that national boundaries should mark sharp differences in standards of living, that membership of a national group should entitle to a share in a cake altogether different from that in which members of other groups share.

Friedrich Hayek
If we can reduce the risk of friction likely to lead to war, this is probably all we can reasonably hope to achieve.

Friedrich Hayek
Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them by refusing to acknowledge the facts.

Friedrich Hayek
It is, indeed, part of the liberal attitude to assume that, especially in the economic field, the self-regulating forces of the market will somehow bring about the required adjustments to new conditions, although no one can foretell how they will do this in a particular instance. There is perhaps no single factor contributing so much to people

Friedrich Hayek
Whatever men live for, today most live only because of the market order.

Friedrich Hayek
The discussions of every age are filled with the issues on which its leading schools of thought differ. But the general intellectual atmosphere of the time is always determined by the views on which the opposing schools agree. They become the unspoken presuppositions of all thought, and common and unquestioningly accepted foundations on which all discussion proceeds.

Friedrich Hayek
That there is little hope of international order or lasting peace so long as every country is free to employ whatever measures it thinks desirable in its own immediate interest, however damaging they may be to others, needs little emphasis now.

Friedrich Hayek