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Friedrich August von Hayek
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Friedrich August von Hayek

economist, philosopher, historian, political scientist, university teacher

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1899  – 1992

Friedrich August von Hayek was an Austrian-born British economist and philosopher. He is known for his contributions to political economy, political philosophy and intellectual history. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how prices communicate information is widely regarded as an important contribution to economics that led to him receiving the prize. He was a major contributor to the Austrian school of economics.

All Quotes by Friedrich August von Hayek

“Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.”
— Friedrich August von Hayek
“Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom.”
— Friedrich August von Hayek
“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.”
— Friedrich August von Hayek
“We shall not grow wiser before we learn that much that we have done was very foolish.”
— Friedrich August von Hayek
“Even the striving for equality by means of a directed economy can result only in an officially enforced inequality - an authoritarian determination of the status of each individual in the new hierarchical order.”
— Friedrich August von Hayek
“Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom.”
— Friedrich August von Hayek
“'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.”
— Friedrich August von Hayek
“Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one's government is not necessarily to secure freedom.”
— Friedrich August von Hayek
“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.”
— Friedrich August von Hayek
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
— Friedrich August von Hayek
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
— Friedrich August von Hayek
“The mind cannot foresee its own advance.”
— Friedrich August von Hayek
“A claim for equality of material position can be met only by a government with totalitarian powers.”
— Friedrich August von Hayek
“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.”
— Friedrich August von Hayek