Home / Quotes / Quote by Friedrich August von Hayek

Quote by Friedrich August von Hayek

“Without the rich - without those who accumulated capital - those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise.”

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

“Life constantly presents the greatest opportunity brilliantly disguised as the biggest disaster.”

Opportunity Disaster

Author:David Icke

“An economy oriented toward production for market exchange provides the optimal conditions for long-lasting and ever-expanding productive capacity based on modern technology.”

Long Technology Economy Modern Conditions Capacity Productions Productive Lasting Expanding Optimal Long Lasting Modern Technology

Author:Peter L. Berger

“No government can provide social security. It is not in the nature of government to be able to provide anything. Government itself is not self-supporting. It lives by taxation. Therefore, since it cannot provide for itself but by taking toll of what the people produce, how can it provide social security for the people?”

People Self Government Able Social Security Produce Live By Social Security Taxation Tolls

Author:Garet Garrett

“It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.”

Way Years Real Seems Interest Differences Pay Economic Periods Taxes Percent Accounts Income Saving Zero Inflation Savings Outrageous Widows Income Tax

Author:Warren Buffett

“Capitalism created the possibility of employment.”

Possibility Capitalism Employment

Author:Friedrich August von Hayek

“The consumer gets the best deal when the product is cheapest, and the product is cheapest when people can freely compete in the market place.”

People Deals Products Consumers

Author:John Pugsley

“Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any other known substitute for the market order could sustain the current population of the world.”

World Humans Order Race Known Threat Population Currents Socialism Welfare Human Race Substitutes

Author:Friedrich August von Hayek

“At times life becomes too busy for religious thoughts.”

Religious Busy Too Busy

Author:James Cook

“Capital is not a free gift of God or of nature. It is the outcome of a provident restriction of consumption on the part of man. It is created and increased by saving and maintained by the abstention from dissaving.”

Men Saving Outcomes Consumption Restriction Gift From God Free Gifts Abstention

Book:Anti-Capitalistic Mentality, The

Source: Anti-Capitalistic Mentality, The

“The reason why the world's leftists give the world' s most horrible murderers a pass is because they sympathize with their socioeconomic goals, which include government ownership and/or control over the means of production. In the U.S., the call is for government control, through regulations, as opposed to ownership.”

World Giving Mean Reason Government Goal Productions Horrible Reason Why Regulation Ownership Murderer Leftists

Author:Walter E. Williams