The Nobel Prize confers on an individual an authority which in economics no man ought to possess.

The confidence in the unlimited power of science is only too often based on a false belief that the scientific method consists in the application of a ready-made technique, or in imitating the form rather than the substance of scientific procedure, as if one needed only to follow some cooking recipes to solve all social problems. It sometimes almost seems as if the techniques of science were more easily learnt than the thinking that shows us what the problems are and how to approach them.

No human mind can comprehend all the knowledge which guides the actions of society.

At a time when most movements that are thought to be progressive advocate further encroachments on individual liberty, those who cherish freedom are likely to expend their energies in opposition. In this they find themselves much of the time on the same side as those who habitually resist change.

It is of the essence of the demand for equality before the law that people should be treated alike in spite of the fact that they are different.

Freedom necessarily means that many things will be done which we do not like.

Hayek was making us think of the productive process as a process in time, inputs coming before outputs.