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Friedrich August von Hayek

(1899-1992) English economist (born in Austria) noted for work on the optimum allocation of resources. Nobel Laureate of Economic Sciences 1974.

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A society that does not recognize that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom.

– Friedrich August von Hayek

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There is all the difference in the world between treating people equally and attempting to make them equal. While the first is the condition of a free society, the second means as DeTocqueville describes it, a new form of servitude.

– Friedrich August von Hayek

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Ever since the beginning of modern science, the best minds have recognized that the range of acknowledged ignorance will grow with the advance of science. Unfortunately, the popular effect of this scientific advance has been a belief, seemingly shared by many scientists, that the range of our ignorance is steadily diminishing and that we can therefore aim at more comprehensive and deliberate control of all human activities. It is for this reason that those intoxicated by the advance of knowledge so often become the enemies of freedom.

– Friedrich August von Hayek

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I am certain that nothing has done so much to destroy the juridical safeguards of individual freedom as the striving after this mirage of social justice.

– Friedrich August von Hayek

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It used to be the boast of free men that, so long as they kept within the bounds of the known law, there was no need to ask anybody's permission or to obey anybody's orders. It is doubtful whether any of us can make this claim today.

– Friedrich August von Hayek

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The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.

– Friedrich August von Hayek

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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

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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

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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

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