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When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.

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

Facts Silent Theory
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 AUGUST VON HAYEK

Order Population Race
Liberty is an opportunity for doing good, but this is only so when it is also an opportunity for doing wrong.
FRIEDRICH AUGUST VON HAYEK

Doing Good Liberty Opportunity
The mind cannot foresee its own advance.
FRIEDRICH AUGUST VON HAYEK

Advance Foresee Mind Own
It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
FRIEDRICH AUGUST VON HAYEK

Differences Moral Today
Once you admit that the individual is merely a means to serve the ends of the higher entity called society or the nation, most of those features of totalitarianism which horrify us follow of necessity
FRIEDRICH AUGUST VON HAYEK

Ends Individual Mean
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
The chief evil is unlimited government, and nobody is qualified to wield unlimited power.
FRIEDRICH AUGUST VON HAYEK

Evil Government Unlimited
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
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
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
Freedom can be preserved only if it is treated as a supreme principle which must not be sacrificed for particular advantages.
FRIEDRICH AUGUST VON HAYEK

Advantage Freedom Principles
If democracy is a means rather than an end, its limits must be determined in the light of the purpose we want it to serve.
FRIEDRICH AUGUST VON HAYEK

Democracy Light Mean
It would clearly not be an improvement to build all houses exactly alike in order to create a perfect market for houses, and the same is true of most other fields where differences between the individual products prevent competition from ever being perfect.
FRIEDRICH AUGUST VON HAYEK

Differences House Order Perfect
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