Friedrich A. Hayek Quotes

A collection of quotes by Friedrich A. Hayek.

Friedrich August von Hayek (1899-1992) was a renowned economist, philosopher, and social theorist, recognized for his significant contributions to classical liberalism and the Austrian School of economics. Born in Vienna, Austria, Hayek embarked on a distinguished career spanning several decades.

Hayek's groundbreaking work in economics and political philosophy propelled him into the international spotlight. His most influential book, "The Road to Serfdom" (1944), warned against the dangers of totalitarianism and centrally planned economies, advocating for individual liberties and a free market system instead. This work solidified his reputation as a defender of classical liberal principles and an advocate for limited government intervention.

Throughout his career, Hayek published numerous books and essays that covered a broad range of topics, including economics, psychology, epistemology, and political theory. His insights played a crucial role in shaping fundamental ideas about spontaneous order, the coordination of knowledge in society, and the inevitable limitations of human understanding in complex systems.

In 1974, Friedrich Hayek was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to the theory of money and economic fluctuations. He remained an influential figure in academia, advising governments, and continuing his scholarly pursuits, championing the values of individual freedom, personal responsibility, and the importance of free markets until his death in 1992. Hayek's intellectual legacy continues to inspire and influence thinkers and policymakers worldwide.

It may indeed prove to be far the most difficult and not the

It may indeed prove to be far the most difficult and not the least important task for human reason rationally to comprehend its own limitations. It is essential for the growth of reason that as individuals we should bow to forces and obey principles which we cannot hope fully to understand, yet on which the advance and even the preservation of civilization depends. Historically this has been achieved by the influence of the various religious creeds and by traditions and superstitions which made man submit to those forces by an appeal to his emotions rather than to his reason. The most dangerous stage in the growth of civilization may well be that in which man has come to regard all these beliefs as superstitions and refuses to accept or to submit to anything which he does not rationally understand. The rationalist whose reason is not sufficient to teach him those limitations of the powers of conscious reason, and who despises all the institutions and customs which have not been consciously designed, would thus become the destroyer of the civilization built upon them. This may well prove a hurdle which man will repeatedly reach, only to be thrown back into barbarism.

Friedrich A. Hayek

There are no better terms available to describe The differen

There are no better terms available to describe The difference between the approach of the natural and the social sciences than to call the former objective and the latter subjective. ... While for the natural scientist the contrast between objective facts and subjective opinions is a simple one, the distinction cannot as readily be applied to the object of the social sciences. The reason for this is that the object, the facts of the social sciences are also opinions -- not opinions of the student of the social phenomena, of course, but opinions of those whose actions produce the object of the social scientist.

Friedrich A. Hayek

Our alternative is either to stick to a moral tradition whic

Our alternative is either to stick to a moral tradition which we haven

Friedrich A. Hayek

What our generation has forgotten is that the system of priv

What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for those who own property, but scarcely less for those who do not. It is only because the control of the means of production is divided among many people acting independently that nobody has complete power over us, that we as individuals can decide what to do with ourselves. If all it be nominally that of

Friedrich A. Hayek

Once you admit that the individual is merely a means to serv

Once you admit that the individual is merely a means to serve the ends of a higher entity called society or the nation, most of those features of totalitarian regimes which horrify us follow of necessity. From the collectivist standpoint, intolerance and brutal suppression of dissent, the complete disregard of the life and happiness of the individual, are essential and unavoidable consequences of this basic premise; and the collectivist can admit this and at the same time claim that his system is superior to one in which the

Friedrich A. Hayek

With the exception only of the period of the gold standard,

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 A. Hayek

Liberty not only means that the individual has both the oppo

Liberty not only means that the individual has both the opportunity and the burden of choice; it also means that he must bear the consequences of his actions.... Liberty and responsibility are inseparable.

Friedrich A. Hayek

Perhaps the fact that we have seen millions voting themselve

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

Friedrich A. Hayek

It is, indeed, part of the liberal attitude to assume that,

It is, indeed, part of the liberal attitude to assume that, especially in the economic field, the self-regulating forces of the market will somehow bring about the required adjustments to new conditions, although no one can foretell how they will do this in a particular instance. There is perhaps no single factor contributing so much to people

Friedrich A. Hayek

There is all the difference in the world between treating pe

There is all the difference in the world between treating people equally and attempting to make them equal.

Friedrich A. Hayek