All economic activity is carried out through time. Every individual economic process occupies a certain time, and all linkages between economic processes necessarily involve longer or shorter periods of time.
~ Friedrich Hayek
:::
All economic activity is carried out through time. Every individual economic process occupies a certain time, and all linkages between economic processes necessarily involve longer or shorter periods of time.
~ Friedrich Hayek
:::
The principle that the end justifies the means is in individualist ethics regarded as the denial of all morals. In collectivist ethics it becomes necessarily the supreme rule.
~ Friedrich Hayek
:::
The main point about liberalism is that it wants to go elsewhere, not to stand still.
~ Friedrich Hayek
:::
There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.
~ Friedrich Hayek
:::
The tug of war between conservatives and progressives can only affect the speed, not the direction, of contemporary developments.
~ Friedrich Hayek
:::
To be controlled in our economic pursuits means to be always controlled unless we declare our specific purpose. Or, since when we declare our specific purpose we shall also have to get it approved, we should really controlled in everything.
~ Friedrich Hayek
:::
Civilization as we know it is inseparable from urban life.
~ Friedrich Hayek
:::
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.
~ Friedrich Hayek
:::
The more the state “plans” the more difficult planning becomes for the individual.
~ Friedrich Hayek
:::
It is indeed probable that more harm and misery have been caused by men determined to use coercion to stamp out a moral evil than by men intent on doing evil.
~ Friedrich Hayek
:::