Home / Quotes / Quote by Friedrich August von Hayek

Quote by Friedrich August von Hayek

“The mischievous idea that all public needs should be satisfied by compulsory organization and that all the means that individuals are willing to devote to pubic purposes should be under the control of government, is wholly alien to the basic principles of a free society.”

Quote by Friedrich August von Hayek

Author

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

You May Also Like

“From the point of view of physics, it is a miracle that [seven million New Yorkers are fed each day] without any control mechanism other than sheer capitalism.”

Views Millions Capitalism Economics Miracle Seven Point Of View Physics Each Day Feds Mechanism Sheer New Yorkers

Author:John Henry Holland

“[A] private property regime makes people responsible for their own actions in the realm of material goods. Such a system therefore ensures that people experience the consequences of their own acts. Property sets up fences, but it also surrounds us with mirrors, reflecting back upon us the consequences of our own behavior.”

People Action Materials Behavior Consequence Economics Responsible Mirrors Property Realms Goods Surround Regimes Fence Reflecting Private Property Reflecting Back

Author:Tom Bethell

“Pollution and overuse of resources stem directly from the failure of government to defend private property. If property rights were to be defended adequately, we would find that here, as in other areas of our economy and society, private enterprise and modern technology would come not as a curse to mankind but as its salvation.”

“I find it remarkable that virtually all of the large difference in labor supply between France and the United States is due to differences in tax systems. I expected institutional constraints on the operation of labor markets and the nature of the unemployment benefit system to be more important. I was surprised that the welfare gain from reducing the intratemporal tax wedge is so large.”

“In fact, people themselves are responsible for making the status quo so resistant to change. We are trapped by our own behavior.”

People Facts Behavior Responsible Management Trapped Status Quo Change Management

Book:Organizational Traps: Leadership, Culture, Organizational Design

Source: Organizational Traps: Leadership, Culture, Organizational Design

“The Lesson is, we all need to expose ourselves to the winds of change”

Needs Wind Lessons Management Change Management Winds Of Change

Author:Andy Grove

“Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.”

Long Taught Investment Investing Long Ago Sock Buffets

Author:Warren Buffett

“The knowledge of the soul admittedly contributes greatly to the advance of truth in general, and, above all, to our understanding of Nature, for the soul is in some sense the principle of animal life.”

Soul Understanding Animal Principles Animal Life

Book:Delphi Complete Works of Aristotle (Illustrated)

Source: Delphi Complete Works of Aristotle (Illustrated)

“I'd never heard of the 'Lord of the Rings', actually. So I went to the bookstore and there it was, three shelves of books about Tolkien and Middle-earth, and I was like, 'Holy cow, what else am I missing out on?'”

Book Earth Three Lord Heard Middle Missing Holy Rings Cows Shelves Bookstores Missing Out Middle Earth

Author:Sean Astin

“There's a couple things you don't talk about in life, and that's race, religion and politics. I try to make sure I don't talk about politics at all.”

Trying Race Couple Religion And Politics Couple Things

Author:Robert Griffin III