It is because every individual knows little and, in particu… - F.A. Hayek

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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.

F.A. Hayek

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liberty freedom market economics

English

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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)

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Emergencies” have always been the pretext on which the safeguards of individual liberty have been eroded.

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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

About F.A. Hayek

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