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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

The moral consequences of totalitarian propaganda…are destructive of all morals because they undermind one of the foundations of all morals: the sense of and respect for truth.
FRIEDRICH AUGUST VON HAYEK

Foundation Moral Politics
If socialists understood economics, they wouldn’t be socialist.
FRIEDRICH AUGUST VON HAYEK

Economics Politics Socialist
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
Emergencies’ have always been the pretext on which the safeguards of individual liberty have been eroded.
FRIEDRICH AUGUST VON HAYEK

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

Politics Practice Socialism
It is because freedom means the renunciation of direct control of individual efforts that a free society can make use of so much more knowledge than the mind of the wisest ruler could comprehend.
FRIEDRICH AUGUST VON HAYEK

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

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

Conservatism Conserves Good
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
In no other field has the world yet paid so dearly for the abandonment of nineteenth-century liberalism as in the field where the retreat began: in international relations. Yet only a small part of the lesson which experience ought to have taught us has been learned.
FRIEDRICH AUGUST VON HAYEK

Lessons Taught Us World
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

Done Economic Planning
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