We shall not grow wiser before we learn that much that we have done was very foolish.

Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.

We shall never prevent the abuse of power if we are not prepared to limit power in a way which occasionally may prevent its use for desirable purposes.

The more the state "plans" the more difficult planning becomes for the individual.

To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.

It is not difficult to deprive the great majority of independent thought. But the minority who will retain an inclination to criticize must also be silenced....Public criticism or even expressions of doubt must be suppressed because they tend to weaken pubic support....When the doubt or fear expressed concerns not the success of a particular enterprise but of the whole social plan, it must be treated even more as sabotage.

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