Friedrich August von Hayek Quotes

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Friedrich Hayek was born in Austria-Hungary. Hayek was an economist and philosopher, who promoted the free market system. He lived from May 8, 1899 - March 23, 1992. Hayek is best known for his defense of classical liberalism. He attended the University of Vienna and earned a doctorates in law and political science.

Friedrich Hayek Quotes

A claim for equality of material position can be met only by a government with totalitarian powers.
Friedrich August von Hayek

Government power can provide equality of economic situation by force. Although, this always backfires because of inflation, higher prices, less choice, poorer society, and overall less freedom.

Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.
Friedrich August von Hayek

If government provides legislation under the guise of freedom or equality is not freedom. Government intentions are usually have the opposite effect.

If we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion.
Friedrich August von Hayek

Under a free society everyone has an opportunity to be successful. It isn't guaranteed that one will be successful, but freedom will bring a happy and prosperous life style. With freedom you won't need government programs and regulation.

Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom.
Friedrich August von Hayek

People are just not educated enough. Politicians will promise the world, but in the end you are just voting for tyranny. You can't secure freedom by receiving "free stuff" from government. Freedom and prosperity can only come from the people. Limit government power and you will have the best life style possible.

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

Socialists believe that government can provide the best lifestyle. Socialism will lead towards tyranny and communism.

'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Friedrich August von Hayek

Whenever there is a threat to a nation, is when liberty is attacked. For example, the Patriot Act takes away the rights of Americans privacy. The excuse for the Patriot Act was 9/11, even though before 9/11 this legislation was floating around.

I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
Friedrich August von Hayek

Every powerful nation throughout history has inflated. We follow history every time. The inflation becomes hidden and is more sophisticated today. Governments use inflation gain more power and control other governments.

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

You can not distribute wealth and expect that individual freedom is preserved. It is impossible. You have to take from one group and give to another. It doesn't work. You make one group poorer to support another group that is already poor. It also causes dependency. There would be less poor if we just let everyone keep the money they earn. You can't take from one to give to another, it can only be done by free will. Charity can provide to the poor.

Even the striving for equality by means of a directed economy can result only in an officially enforced inequality - an authoritarian determination of the status of each individual in the new hierarchical order.
Friedrich August von Hayek

With a centrally planned economy, it causes inequality. It forces productive sources to give to unproductive sources. It isn't fair for one person to be forced to provide for another.

To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.
Friedrich August von Hayek

We can't pretend we know how to run the economy. You can only let the free market work. If you let businesses and people do as they please, as long as they don't harm anyone you will see wondrous achievements. We can't plan an economy, we can let an economy work. People will vote on products and services by choosing where they spend their money. Government programs and businesses force people to buy from them even though they may not be the most efficient or cost effective.