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The freedom that will be used by only one man in a million may be more important to society and more beneficial to the majority than any freedom that we all use.

Friedrich August von Hayek

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
I was quite depressed two weeks ago when I spent an afternoon at Brentano’s Bookshop in New York and was looking at the kind of books most people read. That seems to be hopeless; once you see that you lose all hope.
FRIEDRICH AUGUST VON HAYEK

Book Country New People Two
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 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
It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.
FRIEDRICH AUGUST VON HAYEK

Individual Problem Use
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
The chief evil is unlimited government, and nobody is qualified to wield unlimited power.
FRIEDRICH AUGUST VON HAYEK

Evil Government Unlimited
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
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
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
Without a theory the facts are silent.
FRIEDRICH AUGUST VON HAYEK

Facts Silent Theory
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
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
It is of the essence of the demand for equality before the law that people should be treated alike in spite of the fact that they are different.
FRIEDRICH AUGUST VON HAYEK

Essence Law People
The ultimate decision about what is accepted as right and wrong will be made not by individual human wisdom but by the disappearance of the groups that have adhered to the “wrong” beliefs.
FRIEDRICH AUGUST VON HAYEK

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

Economics Historical Mean