To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.
Friedrich August von HayekThough freedom and wealth are both good things which most of us desire and though we often need both to obtain what we wish, they still remain different. Whether or not I am my own master and can follow my own choice and whether the possibilities from which I must choose are many or few are two entirely different questions. The courtier living in the lap of luxury but at the beck and call of his prince may be much less free than a poor peasant or artisan, less able to live his own life and to choose his own opportunities for usefulness.
Friedrich August von HayekNobody with open eyes can any longer doubt that the danger to personal freedom comes chiefly from the left.
Friedrich August von Hayek'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Friedrich August von HayekWhat a free society offers to the individual is much more than what he would be able to do if only he were free.
Friedrich August von HayekOur freedom of choice in a competitive society rests on the fact that, if one person refuses to satisfy our wishes, we can turn to another. But if we face a monopolist we are at his absolute mercy. And an authority directing the whole economic system of the country would be the most powerful monopolist conceivableโฆit would have complete power to decide what we are to be given and on what terms. It would not only decide what commodities and services were to be available and in what quantities; it would be able to direct their distributions between persons to any degree it liked.
Friedrich August von Hayek