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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

The Nobel Prize confers on an individual an authority which in economics no man ought to possess.
FRIEDRICH AUGUST VON HAYEK

Economics Individual Men
Socialism can only be put into practice only by methods which most socialists disapprove.
FRIEDRICH AUGUST VON HAYEK

Politics Practice Socialism
The chief evil is unlimited government, and nobody is qualified to wield unlimited power.
FRIEDRICH AUGUST VON HAYEK

Evil Government Unlimited
We shall never prevent the abuse of power if we are not prepared to limit power in a way which occasionally may prevent its use for desirable purposes.
FRIEDRICH AUGUST VON HAYEK

Abuse Desirable May Occasionally Purpose
When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
FRIEDRICH AUGUST VON HAYEK

Democracy Politics Power
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
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
Justice, like liberty and coercion, is a concept which, for the sake of clarity, ought to be confined to the deliberate treatment of men by other men.
FRIEDRICH AUGUST VON HAYEK

Justice Liberty Men
Without a theory the facts are silent.
FRIEDRICH AUGUST VON HAYEK

Facts Silent Theory
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 AUGUST VON HAYEK

Country Desirable Measure Order Thinking
Capitalism created the possibility of employment.
FRIEDRICH AUGUST VON HAYEK

Capitalism Employment Possibility
Few are ready to recognize that the rise of fascism and Nazism was not a reaction against the socialist trends of the preceding period but a necessary outcome of those tendencies.
FRIEDRICH AUGUST VON HAYEK

Outcomes Reaction Trends
In government, the scum rises to the top.
FRIEDRICH AUGUST VON HAYEK

Government Libertarian Scum
No human mind can comprehend all the knowledge which guides the actions of society.
FRIEDRICH AUGUST VON HAYEK

Action Knowledge Mind
To be controlled in our economic pursuits means to be controlled in everything.
FRIEDRICH AUGUST VON HAYEK

Economics Historical Mean
Never will man penetrate deeper into error than when he is continuing on a road which has led him to great success
FRIEDRICH AUGUST VON HAYEK

Continuing Errors Men