Yet, as I am anxious to repeat, we will still achieve predictions which can be falsified and which therefore are of empirical significance.
More Quotes from Friedrich August von Hayek:
It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.Friedrich August von Hayek
Our moral traditions developed concurrently with our reason, not as its product.
Friedrich August von Hayek
He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.
Friedrich August von Hayek
I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation.
Friedrich August von Hayek
Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?
Friedrich August von Hayek
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