Top 70 Friedrich A. Hayek Quotes (2024 Update)

1. “To split or decentralize power is necessarily to reduce the absolute amount of power, and the competitive system is the only system designed to minimize by decentralization the power exercised by man over man.”

— Friedrich A. Hayek

2. “There is no justification for the belief that, so long as power is conferred by democratic procedure, it cannot be arbitrary; the contrast suggested by this statement is altogether false: it is not the source but the limitation of power which prevents it from being arbitrary.”

— Friedrich A. Hayek

3. “Tradition is not good simply because it is tradition. It is for what it has given us and only so long as an alternative does not prove by its effect that it is better.”

— Friedrich A. Hayek

4. “Hitler did not have to destroy democracy; he merely took advantage of the decay of democracy and at the critical moment obtained the support of many to whom, though they detested Hitler, he yet seemed the only man strong enough to get things done.”

— Friedrich A. Hayek

5. “There is something seriously lacking in a society in which all the intellectual, moral, and artistic leaders belong to the employed class, especially if most of them are in the employment of the government. Yet we are moving everywhere toward such a position.”

— Friedrich A. Hayek

6. “If we can agree that the economic problem of society is mainly one of rapid adaptation to changes in the particular circumstances of time and place, it would seem to follow that the ultimate decisions must be left to the people who are familiar with these circumstances, who know directly of the relevant changes and of the resources immediately available to meet them.”

— Friedrich A. Hayek

7. “Tradition is not something constant but the product of a process of selection guided not by reason but by success. It changes but can rarely be deliberately changed. Cultural selection is not a rational process; it is not guided by but it creates reason.”

— Friedrich A. Hayek

8. “Unlike the rationalism of the French Revolution, true liberalism has no quarrel with religion.”

— Friedrich A. Hayek

9. “Individualism has a bad name today, and the term has come to be connected with egotism and selfishness.7 But the individualism of which we speak in contrast to socialism and all other forms of collectivism has no necessary connection with these.”

— Friedrich A. Hayek

10. “It should be noted, moreover, that monopoly is frequently the product of factors other than the lower costs of greater size. It is attained through collusive agreement and promoted by public policies. When these agreements are invalidated and when these policies are reversed, competitive conditions can be restored.”

— Friedrich A. Hayek

11. “Our faith in freedom does not rest on the foreseeable results in particular circumstances but on the belief that it will, on balance, release more forces for the good than for the bad.”

— Friedrich A. Hayek

12. “Where the power which ought to check and control monopoly becomes interested in sheltering and defending its appointees, where for the government to remedy an abuse is to admit responsibility for it, and where criticism of the actions of monopoly means criticism of the government, there is little hope of monopoly becoming the servant of the community.”

— Friedrich A. Hayek

13. “What in effect unites the socialists of the Left and the Right is this common hostility to competition and their common desire to replace it by a directed economy. Though the terms “capitalism” and “socialism” are still generally used to describe the past and the future forms of society, they conceal rather than elucidate the nature of the transition through which we are passing.”

— Friedrich A. Hayek

14. “We have progressively abandoned that freedom in economic affairs without which personal and political freedom has never existed in the past. Although we had been warned by some of the greatest political thinkers of the nineteenth century, by Tocqueville and Lord Acton, that socialism means slavery, we have steadily moved in the direction of socialism.”

— Friedrich A. Hayek

15. “I prefer true but imperfect knowledge, even if it leaves much indetermined and unpredictable, to a pretence of exact knowledge that is likely to be false.”

— Friedrich A. Hayek

16. “Law in its ideal form might be described as a ‘once-and-for-all’ command that is directed to unknown people and that is abstracted from all particular circumstances of time and place and refers only to such conditions as may occur anywhere and at any time.”

— Friedrich A. Hayek

17. “The dispute about socialism has thus become largely a dispute about means and not about ends – although the question whether the different ends of socialism can be simultaneously achieved is also involved.”

— Friedrich A. Hayek

18. “It is necessary in the first instance that the parties in the market should be free to sell and buy at any price at which they can find a partner to the transaction and that anybody should be free to produce, sell, and buy anything that may be produced or sold at all. And it is essential that the entry into the different trades should be open to all on equal terms and that the law should not tolerate any attempts by individuals or groups to restrict this entry by open or concealed force.”

— Friedrich A. Hayek

19. “It is now often said that democracy will not tolerate “capitalism.” If “capitalism” means here a competitive system based on free disposal over private property, it is far more important to realize that only within this system is democracy possible. When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.”

— Friedrich A. Hayek

20. “At least insofar as the rules providing for coercion are not aimed at me personally but are so framed as to apply equally to all people in similar circumstances, they are no different from any of the natural obstacles that affect my plans.”

— Friedrich A. Hayek

21. “To the accepted Christian tradition that man must be free to follow his conscience in moral matters if his actions are to be of any merit, the economists added the further argument that he should be free to make full use of his knowledge and skill, that he must be allowed to be guided by his concern for the particular things of which he knows and for which he cares, if he is to make as great a contribution to the common purposes of society as he is capable of making.”

— Friedrich A. Hayek

22. “If all had to wait for better things until they could be provided for all, that day would in many instances never come. Even the poorest today owe their relative material well-being to the results of past inequality.”

— Friedrich A. Hayek

23. “Is there a greater tragedy imaginable than that, in our endeavor consciously to shape our future in accordance with high ideals, we should in fact unwittingly produce the very opposite of what we have been striving for?”

— Friedrich A. Hayek

24. “The functioning of a competition not only requires adequate organization of certain institutions like money, markets, and channels of information – some of which can never be adequately provided by private enterprise – but it depends, above all, on the existence of an appropriate legal system, a legal system designed both to preserve competition and to make it operate as beneficially as possible.”

— Friedrich A. Hayek

25. “But scarcely less surprising to me was the enthusiastic welcome accorded to the book by many whom I never expected to read a volume of this type – and from many more of whom I still doubt whether in fact they ever read it.”

— Friedrich A. Hayek

26. “The influence of these scientist-politicians was of late years not often on the side of liberty: the “intolerance of reason” so frequently conspicuous in the scientific specialist, the impatience with the ways of the ordinary man so characteristic of the expert, and the contempt for anything which was not consciously organized by superior minds according to a scientific blueprint were phenomena familiar in German public life for generations before they became of significance in England.”

— Friedrich A. Hayek

27. “Socialism was embraced by the greater part of the intelligentsia as the apparent heir of the liberal tradition: therefore it is not surprising that to them the idea of socialism’s leading to the opposite of liberty should appear inconceivable.”

— Friedrich A. Hayek

28. “To appreciate what it meant to those who took part in it, we must measure it by the hopes and wishes men held when it began:.”

— Friedrich A. Hayek

29. “The way in which, in the end, with few exceptions, her scholars and scientists put themselves readily at the service of the new rulers is one of the most depressing and shameful spectacles in the whole history of the rise of National Socialism.”

— Friedrich A. Hayek

30. “The effect of the people’s agreeing that there must be central planning, without agreeing on the ends, will be rather as if a group of people were to commit themselves to take a journey together without agreeing where they want to go: with the result that they may all have to make a journey which most of them do not want at all.”

— Friedrich A. Hayek

31. “Freedom to order our own conduct in the sphere where material circumstances force a choice upon us, and responsibility for the arrangement of our own life according to our own conscience, is the air in which alone moral sense grows and in which moral values are daily re-created in the free decision of the individual.”

— Friedrich A. Hayek

32. “The process of selection that shaped customs and morality could take account of more factual circumstances than individuals could perceive, and in consequence tradition is in some respects superior to, or ‘wiser’ than, human reason.”

— Friedrich A. Hayek

33. “German anti-Semitism and anticapitalism spring from the same root is of great importance for the understanding of what has happened there, but this is rarely grasped by foreign observers.”

— Friedrich A. Hayek

34. “Man is free if he needs to obey no person but solely the laws.”

— Friedrich A. Hayek

35. “The principle that the end justifies the means is in individualist ethics regarded as the denial of all morals.”

— Friedrich A. Hayek

36. “Where, for example, it is impracticable to make the enjoyment of certain services dependent on the payment of a price, competition will not produce the services; and the price system becomes similarly ineffective when the damage caused to others by certain uses of property cannot be effectively charged to the owner of that property.”

— Friedrich A. Hayek

37. “We shall never prevent the abuse of power if we are not prepared to limit power in a way which occasionally may also prevent its use for desirable purposes.”

— Friedrich A. Hayek

38. “The younger generation of today has grown up in a world in which in school and press the spirit of commercial enterprise has been represented as disreputable and the making of profit as immoral, where to employ a hundred people is represented as exploitation but to command the same number as honorable.”

— Friedrich A. Hayek

39. “The four requirements just listed – that whatever is not scientifically proven, or is not fully understood, or lacks a fully specified purpose, or has some unknown effects, is unreasonable – are particularly well suited to constructivist rationalism and to socialist thought.”

— Friedrich A. Hayek

40. “The control of the production of wealth is the control of human life itself. – Hilaire Belloc.”

— Friedrich A. Hayek

41. “Democracy is essentially a means, a utilitarian device for safeguarding internal peace and individual freedom. As such it is by no means infallible or certain.”

— Friedrich A. Hayek

42. “The more men know, the smaller the share of all that knowledge becomes that any one mind can absorb. The more civilized we become, the more relatively ignorant must each individual be of the facts on which the working of his civilization depends. The very division of knowledge increases the necessary ignorance of the individual of most of this knowledge.”

— Friedrich A. Hayek

43. “Conservatism, though a necessary element in any stable society, is not a social program; in its paternalistic, nationalistic, and power-adoring tendencies it is often closer to socialism than true liberalism; and with its traditionalistic, anti-intellectual, and often mystical propensities it will never, except in short periods of disillusionment, appeal to the young and all those others who believe that some changes are desirable if this world is to become a better.”

— Friedrich A. Hayek

44. “The argument for collectivism is simple if false; it is an immediate emotional argument. The argument for individualism is subtle and sophisticated; it is an indirect rational argument.”

— Friedrich A. Hayek

45. “A movement whose main promise is the relief from responsibility6 cannot but be antimoral in its effect, however lofty the ideals to which it owes its birth.”

— Friedrich A. Hayek

46. “Far from being appropriate only to comparatively simple conditions, it is the very complexity of the division of labor under modern conditions which makes competition the only method by which such coordination can be adequately brought about.”

— Friedrich A. Hayek

47. “The fact that someone has full legal authority to act in the way he does gives no answer to the question whether the law gives him power to act arbitrarily or whether the law prescribes unequivocally how he has to act. It may well be that Hitler has obtained his unlimited powers in a strictly constitutional manner and that whatever he does is therefore legal in the juridical sense. But who would suggest for that reason that the Rule of Law still prevails in Germany?”

— Friedrich A. Hayek

48. “It means, not that everything is regulated by law, but, on the contrary, that the coercive power of the state can be used only in cases defined in advance by the law and in such a way that it can be foreseen how it will be used.”

— Friedrich A. Hayek

49. “Man has come to hate, and to revolt against, the impersonal forces to which in the past he submitted, even though they have often frustrated his individual efforts.”

— Friedrich A. Hayek

50. “No sensible person should have doubted that the crude rules in which the principles of economic policy of the nineteenth century were expressed were only a beginning – that we had yet much to learn and that there were still immense possibilities of advancement on the lines on which we had moved. But this advance could come only as we gained increasing intellectual mastery of the forces of which we had to make use.”

— Friedrich A. Hayek