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[The] impersonal process of the market … can be neither just nor unjust, because the results are not intended or foreseen.

Friedrich August von Hayek

Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
FRIEDRICH AUGUST VON HAYEK

Input Thinking Time
Once wide coercive powers are given to governmental agencies for particular purposes, such powers cannot be effectively controlled by democratic assemblies.
FRIEDRICH AUGUST VON HAYEK

Agency Assembly Purpose
All political theories assume, of course, that most individuals are very ignorant. Those who plead for liberty differ from the rest in that they include among the ignorant themselves as well as the wisest.
FRIEDRICH AUGUST VON HAYEK

Ignorant Liberty Political Wisdom
In government, the scum rises to the top.
FRIEDRICH AUGUST VON HAYEK

Government Libertarian Scum
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 AUGUST VON HAYEK

Cake Differences Membership
Liberty”’.that condition of man in which coercion of some by others is reduced as much as possible in society
FRIEDRICH AUGUST VON HAYEK

Coercion Liberty Men
Perhaps even more than elsewhere current notions of what is desirable and practicable are here still of a kind which may well produce the opposite of what they promise.
FRIEDRICH AUGUST VON HAYEK

May Opposites Promise
And who will deny that a world in which the wealthy are powerful is still a better world than one in which only the already powerful can acquire wealth?
FRIEDRICH AUGUST VON HAYEK

Powerful Wealth World
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 AUGUST VON HAYEK

Assumptions Beliefs Facts Moral
The freedom that will be used by only one man in a million may be more important to society and more beneficial to the majority than any freedom that we all use.
FRIEDRICH AUGUST VON HAYEK

Important Majority Men
To be controlled in our economic pursuits means to be controlled in everything.
FRIEDRICH AUGUST VON HAYEK

Economics Historical Mean
Freedom necessarily means that many things will be done which we do not like.
FRIEDRICH AUGUST VON HAYEK

Done Mean Necessarily
It is because freedom means the renunciation of direct control of individual efforts that a free society can make use of so much more knowledge than the mind of the wisest ruler could comprehend.
FRIEDRICH AUGUST VON HAYEK

Effort Freedom Individual Mean
There may be few instances in which the superstition that only measurable magnitudes can be important has done positive harm in the economic field: but the present inflation and employment problems are a very serious one.
FRIEDRICH AUGUST VON HAYEK

Important May Superstition
It is of the essence of the demand for equality before the law that people should be treated alike in spite of the fact that they are different.
FRIEDRICH AUGUST VON HAYEK

Essence Law People
I am certain, however, that nothing has done so much to destroy the juridical safeguards of individual freedom as the striving after this mirage of social justice.
FRIEDRICH AUGUST VON HAYEK

Freedom Justice Mirages