Friedrich August von Hayek Quotes About Competition

Quotes about: Competition

• Competition is like experimentation in science, a discovery process, and it must rely on the self interest of producers, it must allow them to use their knowledge for their purposes, because nobody else possesses the information

  Friedrich August von Hayek

  Self, Discovery, Competition

• ..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

• Competition means decentralized planning by many separate persons.

  Friedrich August von Hayek

  Mean, Entrepreneur, Competition

• To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies- these tasks provide a wide and unquestioned field for state activity.

  Friedrich August von Hayek

  Competition, Deception, Tasks

• It would clearly not be an improvement to build all houses exactly alike in order to create a perfect market for houses, and the same is true of most other fields where differences between the individual products prevent competition from ever being perfect.

  Friedrich August von Hayek

  Order, Differences, Perfect

  "Individualism and Economic Order". Book by Friedrich Hayek, The Meaning of Competition, May 1946.

• It is one of the most fatal illusions that, by substituting negotiations between states or organized groups for competition for markets or for raw materials, international friction would be reduced. This would merely put a contest of force in the place of what can only metaphorically be called the "struggle" of competition and would transfer to powerful and armed states, subject to no superior law, the rivalries which between individuals had to be decided without recourse to force.

  Friedrich August von Hayek

  Powerful, Struggle, Law

  "The Road to Serfdom". Book by Friedrich Hayek, Ch. 15 : The Prospects of International Order, 1940 - 1943.

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