When I look at the world, I sometimes feel that here in Germany one may still be in some sort of lifeboat that can hope to keep afloat when the rest … - Friedrich Hayek

If craftsmen and blacksmiths were feared for transforming material substance, if traders were feared for transforming such intangible qualities as value, how much more will the banker be feared for the transformations he effects with the most abstract and immaterial of all economic institutions? Thus we reach the climax of the progressive replacement of the perceivable and concrete by abstract concepts shaping rules guiding activity: money and its institutions seem to be beyond the boundary of laudable and understandable physical efforts of creation, in a realm where the comprehension of the concrete ceases and incomprehensible abstractions rule.

The illiterate expression ‘given data’ constantly recurs in Lange. It appears to have an irresistable attraction to mathematical economists because it doubly assures them that they know what they do not know. It seems to bewitch them into making assertions about the real world for which they have no empirical justification whatever.

Altruism is an instinct we've inherited from the small society where we knew for whom we work, whom we serve. When you pass from this, as I like to call it, 'concrete society', where we are guided by what we see, to the abstract society which far transcends our range of vision, it becomes necessary that we are guided not by the knowledge of the effect of what we do, but by some abstract symbols. Now, the only symbol which tells us where we can make the best contribution is profit. And in fact by pursuing profit, we are as altruistic as we can possibly be, because we extend our concern to people who are beyond our range of personal conception. This is a condition which makes it possible to produce what I call an extended order, an order which is not determined by our aim, by our knowing what are the most urgent needs, but by an impersonal mechanism which by a system of communication puts a label on certain things which is fully impersonal.