Friedrich August von Hayek Quotes About Choices

Quotes about: Choices

• 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.

• 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

• Our 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 conceivable…it 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

  Country, Powerful, Choices

• The economic freedom which is the prerequisite of any other freedom cannot be the freedom from economic care which the socialist promise us, and which can be obtained only by relieving the individual at the same time of the necessity and of the power of choice: it must be the freedom of economic activity which, with the right of choice, inevitably also carries the risk and the responsibility of that right

  Friedrich August von Hayek

  Responsibility, Choices, Risk

• Though 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 Hayek

  Opportunity, Two, Luxury

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