Friedrich August von Hayek Quotes About Capitalism

Quotes about: Capitalism

• Even the striving for equality by means of a directed economy can result only in an officially enforced inequality - an authoritarian determination of the status of each individual in the new hierarchical order.

  Friedrich August von Hayek

  Determination, Mean, Equality

  "The Road to Serfdom" by Friedrich August von Hayek, (Ch. 11), 1944.

• What our generation has forgotten is that the system of private property is the most important guarantee of freedom, not only for those who own property, but scarcely less for those who do not. It is only because the control of the means of production is divided among many people acting independently that nobody has complete power over us, that we as individuals can decide what to do with ourselves.

  Friedrich August von Hayek

  Mean, Our Generation, People

  "The Road to Serfdom". Book by Friedrich Hayek, Ch. 7 : Economic Control and Totalitarianism, 1940 - 1943.

• Liberty not only means that the individual has both the opportunity and the burden of choice; it also means that he must bear the consequences of his actions. Liberty and responsibility are inseparable.

  Friedrich August von Hayek

  Freedom, Mean, Responsibility

  "The Constitution of Liberty". Book by Friedrich Hayek. Part I: "The Value of Freedom". Chapter 5: "Responsibility and Freedom", 1960.

• Capitalism is not only a better form of organizing human activity than any deliberate design, any attempt to organize it to satisfy particular preferences, to aim at what people regard as beautiful or pleasant order, but it is also the indispensable condition for just keeping that population alive which exists already in the world. I regard the preservation of what is known as the capitalist system, of the system of free markets and the private ownership of the means of production, as an essential condition of the very survival of mankind.

  Friedrich August von Hayek

  Beautiful, Mean, Order

• The younger generation of today has grown up in a world in which in school and press the spirit of commercial enterprise has been represented as disreputable and the making of profit as immoral, where to employ a hundred people is represented as exploitation but to command the same number as honorable.

  Friedrich August von Hayek

  School, Numbers, People

• Money is one of the greatest instruments of freedom ever invented by man. It is money which in existing society opens an astounding range of choice to the poor man, a range greater than that which not many generations ago was open to the wealthy

  Friedrich August von Hayek

  Men, Choices, Generations

• And who will deny that a world in which the wealthy are powerful is still a better world than one in which only the already powerful can acquire wealth?

  Friedrich August von Hayek

  Powerful, World, Wealth

• Once you admit that the individual is merely a means to serve the ends of the higher entity called society or the nation, most of those features of totalitarianism which horrify us follow of necessity

  Friedrich August von Hayek

  Mean, Individual, Ends

• ..where effective competition can be created, it is a better way of guiding individual efforts than any other... regards competition as superior not only because it is in most circumstances the most efficient method known but even more because it is the only method by which our activities can be adjusted to each other without coercive or arbitrary intervention of authority.

  Friedrich August von Hayek

  Individual Effort, Competition, Arbitrary

• Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and the enforcement of ideals and, as such, essential if central planning on a large scale is to be possible.

  Friedrich August von Hayek

  Essentials, Enforcement, Coercion

• Capitalism created the possibility of employment.

  Friedrich August von Hayek

  Employment, Possibility, Capitalism

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