Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.
Friedrich August von HayekIf we can reduce the risk of friction likely to lead to war, this is probably all we can reasonably hope to achieve.
Friedrich August von HayekNowhere has democracy ever worked well without a great measure of local self-government, providing a school of political training for the people at large as much as for their future leaders.
Friedrich August von HayekOne need not be a prophet to be aware of impending dangers. An accidental combination of experience and interest will often reveal events to one man under aspects which few yet see.
Friedrich August von HayekIf we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion.
Friedrich August von HayekWe must shed the illusion that we can deliberately 'create the future of mankind'
Friedrich August von HayekAs long-term institutions, I am totally against dictatorships. But a dictatorship may be a necessary system for a transitional period... Personally I prefer a liberal dictator to democratic government lacking liberalism. My personal impression - and this is valid for South America - is that in Chile, for example, we will witness a transition from a dictatorial government to a liberal government.
Friedrich August von Hayek