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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

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

Politics Practice Socialism
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
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
…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
Liberty and responsibility are inseparable.
FRIEDRICH AUGUST VON HAYEK

Inseparable Liberty Responsibility
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
Conservatism is only as good as what it conserves.
FRIEDRICH AUGUST VON HAYEK

Conservatism Conserves Good
The mind cannot foresee its own advance.
FRIEDRICH AUGUST VON HAYEK

Advance Foresee Mind Own
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
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
Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one’s government is not necessarily to secure freedom.
FRIEDRICH AUGUST VON HAYEK

Freedom Generation Government Our
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
Emergencies’ have always been the pretext on which the safeguards of individual liberty have been eroded.
FRIEDRICH AUGUST VON HAYEK

Historical Liberty War
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
Capitalism created the possibility of employment.
FRIEDRICH AUGUST VON HAYEK

Capitalism Employment Possibility
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