It is because every individual knows little and, in particular, because we rarely know which of us knows best that we trust the independent and compe… - F.A. Hayek
" "It is because every individual knows little and, in particular, because we rarely know which of us knows best that we trust the independent and competitive efforts of many to induce the emergence of what we shall want when we see it.
English
Collect this quote
About F.A. Hayek
Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian, later British, economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and … penetrating analysis of the interdependence of economic, social and institutional phenomena". (Nobel Memorial Prize, 1974)
Biography information from Wikiquote
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
Additional quotes by F.A. Hayek
Economic control is not merely control of a sector of human life which can be separated from the rest; it is the control of the means for all our ends. And whoever has sole control of the means must also determine which ends are to be served, which values are to be rated higher and which lower-in short, what men should believe and strive for.
Everything which might cause doubt about the wisdom of the government or create discontent will be kept from the people. The basis of unfavorable comparisons with elsewhere, the knowledge of possible alternatives to the course actually taken, information which might suggest failure on the part of the government to live up to its promises or to take advantage of opportunities to improve conditions — all will be suppressed. There is consequently no field where the systematic control of information will not be practiced and uniformity of views not enforced.
Limited Time Offer
Premium members can get their quote collection automatically imported into their Quotewise collections.
Complete rationality of action in the Cartesian sense demands complete knowledge of all the relevant facts. A designer or engineer needs all the data and full power to control or manipulate them if he is to organize the material objects to produce the intended result. But the success of action in society depends on more particular facts than anyone can possibly know. And our whole civilization in consequence rests, and must rest, on our believing rnuch that we cannot know to be true in the Cartesian sense.
Loading...