The knowledge of facts is widely dispersed. We want to make use of knowledge possessed by millions of individual people, which they can only use if t… - Friedrich Hayek

Our whole modern society, based on a far-ranging division of labour, is, however, essentially dependent on two factors that conflict with our natural instincts. The first is the assumption, implicit but not understood, that we can do more good to unknown people if we follow the impersonal signals of the market, which enable us to serve the needs of people whom we do not know and to make use of opportunities and facilities with which we have no direct acquaintance. The second is that for this purpose we can follow our own individual aims with freely chosen associates and are not bound to serve the concrete ends of the group into which we were born.

I believe you will be shocked by my stating this so bluntly because we are still guided instinctively by those inherited "natural" emotions. But I think we must recognize that we have become a worldwide, peaceful, and prosperous society by having learned to disregard those natural instincts and to follow instead certain abstract rules of honesty—rules establishing private property and ultimately codified in the form of private law. It is the rules of property and contract on which the growth of a worldwide, peaceful, and prosperous society was based. All these are traditional rules that evolved by a process of selection, which made those groups who followed the new rules more prosperous than other groups, and which thus came gradually to govern the civilised part of the world. Those communities who adopted the new rules and, in doing so, infringed upon deeply embedded natural feelings became the successful ones, the ones who multiplied because they were more prosperous and were able to attract people from other groups.

Nobody who has lived through the rise of the violent anti-Semitism which led to Hitler can refuse Mrs. Thatcher admiration for her courageous and outspoken warning. When I grew up in Vienna the established Jewish families were a generally respected group and all decent people would frown upon the occasional anti-Jewish outbursts of a few popular politicians. It was the sudden influx of large numbers of Galician and Polish Jews [during World War I] … which in a short period changed the attitude. They were too visibly different to be readily absorbed.