--- title: "Meaning & Key Takeaway of: What our generation has forgotten is that…" description: "\"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 propert..." image: "https://sms4smile.com/quotes/i/854/friedrich-august-von-hayek-141_acting_what-our-generation-has-forgotten-is-tha_860629.jpg" --- # What our generation has forgotten is that the system of… ![“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…” quote by Friedrich August von Hayek](https://sms4smile.com/quotes/i/854/friedrich-august-von-hayek-141_acting_what-our-generation-has-forgotten-is-tha_860629.jpg) [Download](https://sms4smile.com/quotes/i/854/friedrich-august-von-hayek-141_acting_what-our-generation-has-forgotten-is-tha_860629.jpg) [Open image](https://sms4smile.com/quotes/i/854/friedrich-august-von-hayek-141_acting_what-our-generation-has-forgotten-is-tha_860629.jpg) > “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 August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Freedom is best protected when many own or control property, limiting any single power over individuals. **In simple terms:** Distributed ownership safeguards liberty. Key Takeaway Promote broad property rights. Themes freedom property individualism Mood thoughtful analytical Type political philosophical When to use this quote - housing policy - business ownership - community land trusts Key Concepts libertarianism decentralization economic liberty Questions to Reflect On - How does shared ownership prevent tyranny? - What policies encourage widespread property access? A Different Perspective If property concentrates, freedom can erode. ★ ★ ★ ★ ★ No ratings yet [Acting](https://sms4smile.com/quotes/about/acting/) [Capitalism](https://sms4smile.com/quotes/about/capitalism/) [Free market](https://sms4smile.com/quotes/about/free-market/) [Freedom](https://sms4smile.com/quotes/about/freedom/) [Generations](https://sms4smile.com/quotes/about/generations/) [Individual](https://sms4smile.com/quotes/about/individual/) [Our generation](https://sms4smile.com/quotes/about/our-generation/) [People](https://sms4smile.com/quotes/about/people/) [Private property](https://sms4smile.com/quotes/about/private-property/) [Property](https://sms4smile.com/quotes/about/property/) [Road to serfdom](https://sms4smile.com/quotes/about/road-to-serfdom/) ## Related quotes > [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/) > [Freedom and Property Rights are inseparable. 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To…](https://sms4smile.com/quotes/fulton-j-sheen/the-denial-of-the-right-of-ownership-to-a-man-is-a-denial-of-his/) [Fulton J. Sheen](https://sms4smile.com/quotes/author/fulton-j-sheen/) > [Socialism can only be put into practice only by methods which most socialists disapprove.](https://sms4smile.com/quotes/friedrich-august-von-hayek/socialism-can-only-be-put-into-practice-only-by-methods-which-most/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [It is one of the most fatal illusions that, by substituting negotiations between states or organized groups for competition for markets or for raw…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-one-of-the-most-fatal-illusions-that-by-substituting/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [In any society freedom of thought will probably be of direct significance for a small minority. 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It defines you; you worked hard to get it. It's meaningful to…](https://sms4smile.com/quotes/helen-fisher/i-think-that-property-is-very-important-in-this-day-and-age-it/) [Helen Fisher](https://sms4smile.com/quotes/author/helen-fisher/) > [I do think that copyrights and intellectual property are important - it's important to be able to keep people from making verbatim copies of…](https://sms4smile.com/quotes/shepard-fairey/i-do-think-that-copyrights-and-intellectual-property-are-important-it-2/) [Shepard Fairey](https://sms4smile.com/quotes/author/shepard-fairey/) ## 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. 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