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No human mind can comprehend all the knowledge which guides the actions of society.

Friedrich August von Hayek

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
That there is little hope of international order or lasting peace so long as every country is free to employ whatever measures it thinks desirable in its own immediate interest, however damaging they may be to others, needs little emphasis now.
FRIEDRICH AUGUST VON HAYEK

Country Desirable Measure Order Thinking
It is no accident that on the whole there was more beauty and decency to be found in the life of the small peoples, and that among the large ones there was more happiness and content in proportion as they had avoided the deadly blight of centralization.
FRIEDRICH AUGUST VON HAYEK

Blight Centralization Proportion
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
When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
FRIEDRICH AUGUST VON HAYEK

Democracy Politics Power
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
Capitalism created the possibility of employment.
FRIEDRICH AUGUST VON HAYEK

Capitalism Employment Possibility
We did not realise how fragile our civilisation was.
FRIEDRICH AUGUST VON HAYEK

Civilisation History Realising
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
Socialism has never and nowhere been at first a working-class movement. It is by no means an obvious remedy for the obvious evil which the interests of that class will necessarily demand. It is a construction of theorists.
FRIEDRICH AUGUST VON HAYEK

Class Mean Movement Philosophy Working
Many who think themselves infinitely superior to the aberrations of Nazism, and sincerely hate all manifestations, work at the same time for ideals whose realization would lead straight to the abhorred tyranny.
FRIEDRICH AUGUST VON HAYEK

Aberration Hate Thinking
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
Never will man penetrate deeper into error than when he is continuing on a road which has led him to great success
FRIEDRICH AUGUST VON HAYEK

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

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
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
To be controlled in our economic pursuits means to be controlled in everything.
FRIEDRICH AUGUST VON HAYEK

Economics Historical Mean