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Quote by Friedrich August von Hayek

“Competition is like experimentation in science, a discovery process, and it must rely on the self interest of producers, it must allow them to use their knowledge for their purposes, because nobody else possesses the information”

Quote by Friedrich August von Hayek

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Friedrich August von Hayek
Friedrich August von Hayek

Friedrich August von Hayek, born on May 8, 1899, in Austria, and died on March 23, 1992, in the United Kingdom, was one of the most distinguished economists of the 20th century. He is renowned for his profound insights into the free market economy and his critical views on socialism. more

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