There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.
More Quotes from Friedrich August von Hayek:
If most people are not willing to see the difficulty, this is mainly because, consciously or unconsciously, they assume that it will be they who will settle these questions for the others, and because they are convinced of their own capacity to do this.Friedrich August von Hayek
We have indeed at the moment little cause for pride: as a profession we have made a mess of things.
Friedrich August von Hayek
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Friedrich August von Hayek
We shall not grow wiser before we learn that much that we have done was very foolish.
Friedrich August von Hayek
It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.
Friedrich August von Hayek
The credit which the apparent conformity with recognized scientific standards can gain for seemingly simple but false theories may, as the present instance shows, have grave consequences.
Friedrich August von Hayek
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