---
title: "18 Economic Quotes By Friedrich August von Hayek"
description: "18 Economic quotes by Friedrich August von Hayek. Plus more from Friedrich August von Hayek and more Economic sayings from other authors."
image: "https://sms4smile.com/quotes/i/eb2/friedrich-august-von-hayek-141_controlled_to-be-controlled-in-our-economic-pursuit_2821349.jpg"
---

> [To be controlled in our economic pursuits means to be controlled in everything.](https://sms4smile.com/quotes/friedrich-august-von-hayek/to-be-controlled-in-our-economic-pursuits-means-to-be-controlled-in/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/eb2/friedrich-august-von-hayek-141_controlled_to-be-controlled-in-our-economic-pursuit_2821349.jpg)

> [You can have economic freedom without political freedom, but you cannot have political freedom without economic freedom.](https://sms4smile.com/quotes/friedrich-august-von-hayek/you-can-have-economic-freedom-without-political-freedom-but-you/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/b60/friedrich-august-von-hayek-141_economic_you-can-have-economic-freedom-without-po_1519099.jpg)

> [The principle that the end justifies the means is in individualist ethics regarded as the denial of all morals. In collectivist ethics…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-principle-that-the-end-justifies-the-means-is-in-individualist/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/0d0/friedrich-august-von-hayek-141_character_the-principle-that-the-end-justifies-the_1983407.jpg)

> [The greatest danger to liberty today comes from the men who are most needed and most powerful in modern government, namely, the…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-greatest-danger-to-liberty-today-comes-from-the-men-who-are-most/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/a9d/friedrich-august-von-hayek-141_administrators_the-greatest-danger-to-liberty-today-com_1252847.jpg)

> [ \[Socialistic\] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by… ](https://sms4smile.com/quotes/friedrich-august-von-hayek/socialistic-economic-planning-regulation-and-intervention-pave-the/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/e34/friedrich-august-von-hayek-141_building_socialistic-economic-planning-regulation_162331.jpg)

> [There may be few instances in which the superstition that only measurable magnitudes can be important has done positive harm in the…](https://sms4smile.com/quotes/friedrich-august-von-hayek/there-may-be-few-instances-in-which-the-superstition-that-only/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/0c9/friedrich-august-von-hayek-141_done_there-may-be-few-instances-in-which-the_782149.jpg)

> [Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no…](https://sms4smile.com/quotes/friedrich-august-von-hayek/economic-transactions-between-national-bodies-who-are-at-the-same/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/4a2/friedrich-august-von-hayek-141_behavior_economic-transactions-between-national-b_2998577.jpg)

> [This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning…](https://sms4smile.com/quotes/friedrich-august-von-hayek/this-is-not-a-dispute-about-whether-planning-is-to-be-done-or-not-it/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/852/friedrich-august-von-hayek-141_authority_this-is-not-a-dispute-about-whether-plan_1578379.jpg)

> [The argument for liberty is not an argument against organization, which is one of the most powerful tools human reason can employ,…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-argument-for-liberty-is-not-an-argument-against-organization/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/605/friedrich-august-von-hayek-141_argument_the-argument-for-liberty-is-not-an-argum_1992411.jpg)

> [Our freedom of choice in a competitive society rests on the fact that, if one person refuses to satisfy our wishes, we…](https://sms4smile.com/quotes/friedrich-august-von-hayek/our-freedom-of-choice-in-a-competitive-society-rests-on-the-fact-that/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/c50/friedrich-august-von-hayek-141_able_our-freedom-of-choice-in-a-competitive-s_2665837.jpg)

> [It is, indeed, part of the liberal attitude to assume that, especially in the economic field, the self-regulating forces of the market…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-indeed-part-of-the-liberal-attitude-to-assume-that-especially/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/f29/friedrich-august-von-hayek-141_adjustment_it-is-indeed-part-of-the-liberal-attitud_1741614.jpg)

> [If the resources of different nations are treated as exclusive properties of these nations as wholes, if international economic relations, instead of…](https://sms4smile.com/quotes/friedrich-august-von-hayek/if-the-resources-of-different-nations-are-treated-as-exclusive/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/692/friedrich-august-von-hayek-141_body_if-the-resources-of-different-nations-ar_1039431.jpg)

> [Human envy is certainly not one of the sources of discontent that a free society can eliminate. It is probably one of…](https://sms4smile.com/quotes/friedrich-august-von-hayek/human-envy-is-certainly-not-one-of-the-sources-of-discontent-that-a/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/4ff/friedrich-august-von-hayek-141_anti-social_human-envy-is-certainly-not-one-of-the-s_234747.jpg)

> [From the fact that people are very different it follows that, if we treat them equally, the result must be inequality in…](https://sms4smile.com/quotes/friedrich-august-von-hayek/from-the-fact-that-people-are-very-different-it-follows-that-if-we/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/3c8/friedrich-august-von-hayek-141_achieve_from-the-fact-that-people-are-very-diffe_3230110.jpg)

> [The economic freedom which is the prerequisite of any other freedom cannot be the freedom from economic care which the socialist promise…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-economic-freedom-which-is-the-prerequisite-of-any-other-freedom/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/48e/friedrich-august-von-hayek-141_activity_the-economic-freedom-which-is-the-prereq_301072.jpg)

> [To undertake the direction of the economic life of people with widely divergent ideals and values is to assume responsibilities which commit…](https://sms4smile.com/quotes/friedrich-august-von-hayek/to-undertake-the-direction-of-the-economic-life-of-people-with-widely/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/291/friedrich-august-von-hayek-141_affected_to-undertake-the-direction-of-the-econom_3113332.jpg)

> [Capitalism is not only a better form of organizing human activity than any deliberate design, any attempt to organize it to satisfy…](https://sms4smile.com/quotes/friedrich-august-von-hayek/capitalism-is-not-only-a-better-form-of-organizing-human-activity/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/898/friedrich-august-von-hayek-141_activity_capitalism-is-not-only-a-better-form-of_2399771.jpg)

> [The problems raised by a conscious direction of economic affairs on a national scale inevitably assume even greater dimensions when the same…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-problems-raised-by-a-conscious-direction-of-economic-affairs-on-a/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

[Image](https://sms4smile.com/quotes/i/834/friedrich-august-von-hayek-141_affair_the-problems-raised-by-a-conscious-direc_1487559.jpg)

## Other authors on Economic

## More by Friedrich August von Hayek

> [The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-system-of-private-property-is-the-most-important-guaranty-of/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point…](https://sms4smile.com/quotes/friedrich-august-von-hayek/by-the-time-any-view-becomes-a-majority-view-it-is-no-longer-the-best/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [Freedom can be preserved only if it is treated as a supreme principle which must not be sacrificed for particular advantages.](https://sms4smile.com/quotes/friedrich-august-von-hayek/freedom-can-be-preserved-only-if-it-is-treated-as-a-supreme-principle/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them…](https://sms4smile.com/quotes/friedrich-august-von-hayek/should-our-moral-beliefs-really-prove-to-be-dependent-on-factual/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [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…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-true-that-the-virtues-which-are-less-esteemed-and-practiced-now/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [Unlike the rationalism of the French Revolution, true liberalism has no quarrel with religion, and I can only deplore the militant and essentially illiberal…](https://sms4smile.com/quotes/friedrich-august-von-hayek/unlike-the-rationalism-of-the-french-revolution-true-liberalism-has/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [We must make the building of a free society once more an intellectual adventure, a deed of courage… Unless we can make the philosophic…](https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-make-the-building-of-a-free-society-once-more-an-intellectual/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-central-problem-of-management-is-how-spontaneous-interaction-of/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [The discussions of every age are filled with the issues on which its leading schools of thought differ. But the general intellectual atmosphere of…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-discussions-of-every-age-are-filled-with-the-issues-on-which-its/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [The Nobel Prize confers on an individual an authority which in economics no man ought to possess.](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-nobel-prize-confers-on-an-individual-an-authority-which-in/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [ \[Socialistic\] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most… ](https://sms4smile.com/quotes/friedrich-august-von-hayek/socialistic-economic-planning-regulation-and-intervention-pave-the/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-rather-a-problem-of-how-to-secure-the-best-use-of-resources/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [The state itself becomes more and more identified with the interests of those who run things than with the interests of the people in…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-state-itself-becomes-more-and-more-identified-with-the-interests/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.](https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-face-the-fact-that-the-preservation-of-individual-freedom-is/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

> [Human envy is certainly not one of the sources of discontent that a free society can eliminate. It is probably one of the essential…](https://sms4smile.com/quotes/friedrich-august-von-hayek/human-envy-is-certainly-not-one-of-the-sources-of-discontent-that-a/)

[Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/)

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                        "text": "There may be few instances in which the superstition that only measurable magnitudes can be important has done positive harm in the economic field: but the present inflation and employment problems are a very serious one.",
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                        "text": "Economic transactions between national bodies who are at the same time the supreme judges of their own behavior, who bow to no superior law, and whose representatives cannot be bound by any considerations but the immediate interest of their respective nations, must end in clashes of power.",
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                        "text": "This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be done centrally, by one authority for the whole economic system, or is to be divided among many individuals.",
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                        "text": "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",
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                        "text": "If the resources of different nations are treated as exclusive properties of these nations as wholes, if international economic relations, instead of being relations between individuals, become increasingly relations between whole nations organized as trading bodies, they inevitably become the source of friction and envy between whole nations.",
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                        "text": "Human envy is certainly not one of the sources of discontent that a free society can eliminate. It is probably one of the essential conditions for the preservation of such a society that we do not countenance envy, not sanction its demands by camouflaging it as social justice, but treat it, in the words of John Stuart Mill, as 'the most anti-social and evil of all passions.'",
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                        "text": "From the fact that people are very different it follows that, if we treat them equally, the result must be inequality in their actual position, and that the only way to place them in an equal position would be to treat them differently. Equality before the law and material equality are therefore not only different but are in conflict with each other; and we can achieve either one or the other, but not both at the same time",
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                        "text": "The economic freedom which is the prerequisite of any other freedom cannot be the freedom from economic care which the socialist promise us, and which can be obtained only by relieving the individual at the same time of the necessity and of the power of choice: it must be the freedom of economic activity which, with the right of choice, inevitably also carries the risk and the responsibility of that right",
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                        "text": "To undertake the direction of the economic life of people with widely divergent ideals and values is to assume responsibilities which commit one to the use of force; it is to assume a position where the best intentions cannot prevent one from being forced to act in a way which to some of those affected must appear highly immoral. This is true even if we assume the dominant power to be as idealistic and unselfish as we can possibly conceive. But how small is the likelihood that it will be unselfish, and how great are the temptations!",
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                        "text": "Capitalism is not only a better form of organizing human activity than any deliberate design, any attempt to organize it to satisfy particular preferences, to aim at what people regard as beautiful or pleasant order, but it is also the indispensable condition for just keeping that population alive which exists already in the world. I regard the preservation of what is known as the capitalist system, of the system of free markets and the private ownership of the means of production, as an essential condition of the very survival of mankind.",
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                        "text": "The problems raised by a conscious direction of economic affairs on a national scale inevitably assume even greater dimensions when the same is attempted internationally. The conflict between planning and freedom cannot but become more serious as the similarity of standards and values among those submitted to a unitary plan diminishes.",
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