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

Friedrich August von Hayek

Related Topics

Economics Individual Men

Bagwalas

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Wherever liberty as we understand it has been destroyed, this has almost always been done in the name of some new freedom promised to the people
FRIEDRICH AUGUST VON HAYEK

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

Action Knowledge Mind
Capitalism created the possibility of employment.
FRIEDRICH AUGUST VON HAYEK

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

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
It can hardly be denied that such a demand quite arbitrarily limits the facts which are to be admitted as possible causes of the events which occur in the real world.
FRIEDRICH AUGUST VON HAYEK

Causes Limits Real
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
In government, the scum rises to the top.
FRIEDRICH AUGUST VON HAYEK

Government Libertarian Scum
…the case for individual freedom rests largely on the recognition of the inevitable and universal ignorance of all of us concerning a great many of the factors on which the achievements of our ends and welfare depend.
FRIEDRICH AUGUST VON HAYEK

Achievement Ignorance Liberty
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
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
The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not.
FRIEDRICH AUGUST VON HAYEK

Important Libertarian Liberty
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
We shall not grow wiser before we learn that much that we have done was very foolish.
FRIEDRICH AUGUST VON HAYEK

Done Foolish Much Stupid
If socialists understood economics, they wouldn’t be socialist.
FRIEDRICH AUGUST VON HAYEK

Economics Politics Socialist

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