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With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.

Friedrich August von Hayek

We did not realise how fragile our civilisation was.
FRIEDRICH AUGUST VON HAYEK

Civilisation History Realising
Conservatism is only as good as what it conserves.
FRIEDRICH AUGUST VON HAYEK

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

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

Action Knowledge Mind
It used to be the boast of free men that, so long as they kept within the bounds of the known law, there was no need to ask anybody’s permission or to obey anybody’s orders. It is doubtful whether any of us can make this claim today.
FRIEDRICH AUGUST VON HAYEK

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

Politics Practice Socialism
Nobody with open eyes can any longer doubt that the danger to personal freedom comes chiefly from the left.
FRIEDRICH AUGUST VON HAYEK

Danger Doubt Eye
Emergencies’ have always been the pretext on which the safeguards of individual liberty have been eroded.
FRIEDRICH AUGUST VON HAYEK

Historical Liberty War
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
FRIEDRICH AUGUST VON HAYEK

Design Liberty Men
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
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
It is perhaps the most characteristic feature of the intellectual that he judges new ideas not by their specific merits but by the readiness with which they fit into his general conceptions, into the picture of the world which he regards as modern or advanced.
FRIEDRICH AUGUST VON HAYEK

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

Economics Individual Men