Phrase by 'Friedrich August von Hayek'
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It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
Author: Friedrich August von Hayek - Austrian EconomistMe , Science , Today , Economics
We know: of course, with regard to the market and similar social structures, a great many facts which we cannot measure and on which indeed we have only some very imprecise and general information.
Author: Friedrich August von Hayek - Austrian EconomistKnow , Great , Facts , Information
He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.
Author: Friedrich August von Hayek - Austrian EconomistKnowledge , Plants , Learning , Growth
I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
Author: Friedrich August von Hayek - Austrian EconomistSay , Think , History , Inflation
The mind cannot foresee its own advance.
Author: Friedrich August von Hayek - Austrian EconomistOwn , Mind , Cannot , Brainy
Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.
Author: Friedrich August von Hayek - Austrian EconomistWill , Only , Freedom , Known
If most people are not willing to see the difficulty, this is mainly because, consciously or unconsciously, they assume that it will be they who will settle these questions for the others, and because they are convinced of their own capacity to do this.
Author: Friedrich August von Hayek - Austrian EconomistSee , People , Will , Questions
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.
Author: Friedrich August von Hayek - Austrian EconomistTime , Value , Hands , Problem
This means that to entrust to science - or to deliberate control according to scientific principles - more than scientific method can achieve may have deplorable effects.
Author: Friedrich August von Hayek - Austrian EconomistScience , Principles , Control , Achieve
To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.
Author: Friedrich August von Hayek - Austrian EconomistSociety , Knowledge , Us , Power
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