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 More Quotes by Friedrich August von Hayek More Quotes From Friedrich August von Hayek Least of all shall we preserve democracy or foster its growth if all the power and most of the important decisions rest with an organization far too big for the common man to survey or comprehend. Friedrich August von Hayek organization decision men The discussions of every age are filled with the issues on which its leading schools of thought differ. But the general intellectual atmosphere of the time is always determined by the views on which the opposing schools agree. They become the unspoken presuppositions of all thought, and common and unquestioningly accepted foundations on which all discussion proceeds. Friedrich August von Hayek issues views school Unlike proportionality, progression provides no principle which tells us what the relative burden of different persons ought to be the argument based on the presumed justice of progression provides no limitation, as has often been admitted by its supporters, before all incomes above a certain figure are confiscated, and those below left untaxed. Friedrich August von Hayek different principles justice Whatever men live for, today most live only because of the market order. Friedrich August von Hayek live-for-today men order 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 August von Hayek self attitude people We did not realise how fragile our civilisation was. Friedrich August von Hayek civilisation realising history Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them by refusing to acknowledge the facts. Friedrich August von Hayek moral-beliefs would-be facts It is neither necessary nor desirable that national boundaries should mark sharp differences in standards of living, that membership of a national group should entitle to a share in a cake altogether different from that in which members of other groups share. Friedrich August von Hayek membership cake differences I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions. Friedrich August von Hayek economy problem hands The advantage of a free market is that it allows millions of decision-makers to respond individually to freely determined prices, allocating resources - labor, capital and human ingenuity - in a manner that can't be mimicked by a central plan, however brilliant the central planner. Friedrich August von Hayek brilliant determined decision If democracy is a means rather than an end, its limits must be determined in the light of the purpose we want it to serve. Friedrich August von Hayek democracy light mean Unlike the position that exists in the physical sciences, in economics and other disciplines that deal with essentially complex phenomena, the aspects of the events to be accounted for about which we can get quantitative data are necessarily limited and may not include the important ones. Friedrich August von Hayek data discipline important To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about. Friedrich August von Hayek expansion evil mean To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end. Friedrich August von Hayek deception evil mean Whenever it is necessary that one of several conflicting opinions should prevail and when one would have to be made to prevail by force if need be, it is less wasteful to determine which has the stronger support by counting numbers than by fighting. Friedrich August von Hayek support fighting numbers Our hopes of avoiding the fate which threatens must...[be to make]adjustments that will be needed if we are to recover and surpass our former standards...and only if every one of us is ready to individually obey the necessities of readjustment shall we be able to get through a difficult period as free men who can choose their own way of life. Let a uniform minimum be secured to everybody by all means; but let us admit at the same time that with this assurance of a basic minimum all claims for a privileged security for particular classes must lapse. Friedrich August von Hayek fate men mean Humiliating to human pride as it may be, we must recognize that the advance and even the preservation of civilization are dependent upon a maximum of opportunity for accidents to happen. Friedrich August von Hayek pride opportunity civilization Every change in conditions will make necessary some change in the use of resources, in the direction and kind of human activities, in habits and practices. And each change in the actions of those affected in the first instance will require further adjustments that will gradually extend through the whole of society. Every change thus in a sense creates a "problemfor society, even though no single individual perceives it as such; it is gradually "solvedby the establishment of a new overall adjustment. Friedrich August von Hayek society use practice If this is the degree of inflation planned for in advance, the real outcome is indeed likely to be such that most of those who will retire at the end of the century will be dependent on the charity of the younger generation. And ultimately not morals but the fact that the young supply the police and the army will decide the issue: concentration camps for the aged unable to maintain themselves are likely to be the fate of an old generation whose income is entirely dependent on coercing the young. Friedrich August von Hayek fate army real As is true with respect to other great evils, the measures by which war might be made altogether impossible for the future may well be worse than even war itself. Friedrich August von Hayek evil may war
