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…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

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
Liberty and responsibility are inseparable.
FRIEDRICH AUGUST VON HAYEK

Inseparable Liberty Responsibility
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
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
Hayek was making us think of the productive process as a process in time, inputs coming before outputs.
FRIEDRICH AUGUST VON HAYEK

Input Thinking Time
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
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 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

Justice Umpires Views
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
Liberty is an opportunity for doing good, but this is only so when it is also an opportunity for doing wrong.
FRIEDRICH AUGUST VON HAYEK

Doing Good Liberty Opportunity
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
Once politics become a tug-of-war for shares in the income pie, decent government is impossible.
FRIEDRICH AUGUST VON HAYEK

Government Pie War
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 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
No human mind can comprehend all the knowledge which guides the actions of society.
FRIEDRICH AUGUST VON HAYEK

Action Knowledge Mind