The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Friedrich August Von HayekRead
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.
Interpretation
What this quote means
Private property is essential for the freedom of all individuals, as it prevents any one person from having total control over others.
Friedrich August Von Hayek emphasizes the importance of private property in ensuring individual freedom. He argues that when property is owned independently by many, it creates a balance of power that protects everyone from domination, allowing individuals to make their own choices and pursue their own paths in life.
Themes
FreedomPropertyPowerIndividualismControl
In practice
Example use cases
In a speech about economic policy, this quote could illustrate the importance of property rights in a free society.
More from Friedrich August Von Hayek
All quotes →It is only because the majority opinion will always be opposed by some that our knowledge and understanding progress... it is always from a minority acting in ways different from what the majority would prescribe that the majority in the end learns to do better.
Friedrich August Von HayekRead
Fascism is the stage reached after communism has proved an illusion.
Friedrich August Von HayekRead
It is because freedom means the renunciation of direct control of individual efforts that a free society can make use of so much more knowledge than the mind of the wisest ruler could comprehend.
Friedrich August Von HayekRead
The importance of our being free to do a particular thing has nothing to do with the question of whether we or the majority are ever likely to make use of that particular possibility. To grant no more freedom than all can exercise would be to misconceive its function completely. The freedom that will be used by only one man in a million may be more important to society and more beneficial to the majority than any freedom that we all use.
Friedrich August Von HayekRead
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 HayekRead
Similar quotes
The thing that is important is the thing that is not seen.
Antoine De Saint-ExuperyRead
The resistance to the unpleasant situation is the root of suffering.
Ram DassRead
The will of God is always a bigger thing than we bargain for, but we must believe that whatever it involves, it is good, acceptable and perfect.
Jim ElliotRead
Through our scientific and technological genius we've made of this world a neighborhood. And now through our moral and ethical commitment we must make of it a brotherhood. We must all learn to live together as brothers-or we will all perish together as fools.
Martin Luther King, Jr.Read
I never had a problem with my face on screen. I thought it is what it is, and I was turned off by actors and actresses that tried to keep themselves young.
Robert RedfordRead
What region of the earth is not full of our calamities?
VirgilRead