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This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be done centrally, by one authority for the whole economic system, or is to be divided among many individuals.

Friedrich August von Hayek

$Friedrich August von Hayek Quote - There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.$

There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.
FRIEDRICH AUGUST VON HAYEK

Boards Exercise Planning
Liberty and responsibility are inseparable.
FRIEDRICH AUGUST VON HAYEK

Inseparable Liberty Responsibility
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
Humiliating to human pride as it may be, we must recognize that the advance and even the preservation of civilization are dependent upon a maximum of opportunity for accidents to happen.
FRIEDRICH AUGUST VON HAYEK

Civilization Opportunity Pride
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
No human mind can comprehend all the knowledge which guides the actions of society.
FRIEDRICH AUGUST VON HAYEK

Action Knowledge Mind
By giving the government unlimited powers, the most arbitrary rule can be made legal; and in this way a democracy may set up the most complete despotism imaginable.
FRIEDRICH AUGUST VON HAYEK

Democracy Giving Government
The conservative feels safe and content only if he is assured that some higher wisdom watches and supervises change, only if he knows that some authority is charged with keeping the change “orderly.
FRIEDRICH AUGUST VON HAYEK

Conservative Safe Watches
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
It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.
FRIEDRICH AUGUST VON HAYEK

Individual Problem Use
We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.
FRIEDRICH AUGUST VON HAYEK

Justice Umpires Views
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
To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies- these tasks provide a wide and unquestioned field for state activity.
FRIEDRICH AUGUST VON HAYEK

Competition Deception Tasks
I have come to feel strongly that the greatest service I can still render to my fellow men would be that I could make the speakers and writers among them thoroughly ashamed ever again to employ the term “social justice.
FRIEDRICH AUGUST VON HAYEK

Greatest Justice Men Services Writer
It is no accident that on the whole there was more beauty and decency to be found in the life of the small peoples, and that among the large ones there was more happiness and content in proportion as they had avoided the deadly blight of centralization.
FRIEDRICH AUGUST VON HAYEK

Blight Centralization Proportion
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