Capitalism Quotes by Friedrich August von Hayek

18 Capitalism quotes by Friedrich August von Hayek

All Capitalism quotes Friedrich August von Hayek’s page

Hayek argues that decentralized decision‑making fuels innovation and freedom, warning against over‑centralization. Eighteen succinct statements illustrate his classic liberal economics.

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If socialists understood economics, they wouldn't be socialist.

Friedrich August von Hayek

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Socialism can only be put into practice only by methods which most socialists disapprove.

Friedrich August von Hayek

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Socialism has never and nowhere been at first a working-class movement.

Friedrich August von Hayek

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Capitalism created the possibility of employment.

Friedrich August von Hayek

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And who will deny that a world in which the wealthy are powerful is still a better world than one in which…

Friedrich August von Hayek

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Socialism is simply a re-assertion of that tribal ethics whose gradual weakening had made an approach to the Great Society possible.

Friedrich August von Hayek

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Liberty not only means that the individual has both the opportunity and the burden of choice; it also means that he must…

Friedrich August von Hayek

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That democratic socialism, the great utopia of the last few generations, is not only unachievable, but that to strive for it produces…

Friedrich August von Hayek

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Socialism has never and nowhere been at first a working-class movement. It is by no means an obvious remedy for the obvious…

Friedrich August von Hayek

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Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any…

Friedrich August von Hayek

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Money is one of the greatest instruments of freedom ever invented by man. It is money which in existing society opens an…

Friedrich August von Hayek

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..where effective competition can be created, it is a better way of guiding individual efforts than any other... regards competition as superior…

Friedrich August von Hayek

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Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and the enforcement of ideals and, as such, essential…

Friedrich August von Hayek

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The younger generation of today has grown up in a world in which in school and press the spirit of commercial enterprise…

Friedrich August von Hayek

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Capitalism is not only a better form of organizing human activity than any deliberate design, any attempt to organize it to satisfy…

Friedrich August von Hayek

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What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for…

Friedrich August von Hayek

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The advantage of a free market is that it allows millions of decision-makers to respond individually to freely determined prices, allocating resources…

Friedrich August von Hayek

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Once you admit that the individual is merely a means to serve the ends of the higher entity called society or the…

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…

Friedrich August von Hayek

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By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point…

Friedrich August von Hayek

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Freedom can be preserved only if it is treated as a supreme principle which must not be sacrificed for particular advantages.

Friedrich August von Hayek

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Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them…

Friedrich August von Hayek

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It is true that the virtues which are less esteemed and practiced now--independence, self-reliance, and the willingness to bear risks, the readiness to back…

Friedrich August von Hayek

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Unlike the rationalism of the French Revolution, true liberalism has no quarrel with religion, and I can only deplore the militant and essentially illiberal…

Friedrich August von Hayek

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We must make the building of a free society once more an intellectual adventure, a deed of courage… Unless we can make the philosophic…

Friedrich August von Hayek

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The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the…

Friedrich August von Hayek

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The discussions of every age are filled with the issues on which its leading schools of thought differ. But the general intellectual atmosphere of…

Friedrich August von Hayek

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The Nobel Prize confers on an individual an authority which in economics no man ought to possess.

Friedrich August von Hayek

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[Socialistic] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most…

Friedrich August von Hayek