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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

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

Economics Individual Men
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
When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
FRIEDRICH AUGUST VON HAYEK

Democracy Politics Power
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

Freedom Justice Mirages
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
The attitude of the liberal towards society is like that of the gardener who tends a plant and, in order to create the conditions most favorable to its growth, must know as much as possible about its structure and the way it functions.
FRIEDRICH AUGUST VON HAYEK

Attitude Growth Order
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
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
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
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

Government Issues People
Socialism can only be put into practice only by methods which most socialists disapprove.
FRIEDRICH AUGUST VON HAYEK

Politics Practice Socialism
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
In government, the scum rises to the top.
FRIEDRICH AUGUST VON HAYEK

Government Libertarian Scum
If socialists understood economics, they wouldn’t be socialist.
FRIEDRICH AUGUST VON HAYEK

Economics Politics Socialist
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