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.
Interpretation
This quote critiques how society views profit-making and entrepreneurship, suggesting such views may skew perceptions of work ethics.
Friedrich August Von Hayek highlights a significant cultural shift in how the younger generation perceives commercial enterprise, suggesting that schools and media frame profit-making and entrepreneurship negatively. He argues that this viewpoint leads to a moral distinction that unfairly labels job creators as exploiters while presenting those in positions of power as honorable, thereby shaping the ethics and aspirations of young people in a way that could hinder their entrepreneurial spirit.
In practice
In a discussion with students about the importance of entrepreneurship in today's economy.
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.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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.
Fascism is the stage reached after communism has proved an illusion.
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.
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.
It is not systematic education which somehow molds society, but, on the contrary, society which, according to its particular structure, shapes education in relation to the ends and interests of those who control the power in that society.
Teaching literature is teaching how to read. How to notice things in a text that a speed-reading culture is trained to disregard, overcome, edit out, or explain away; how to read what the language is doing, not guess what the author was thinking; how to take evidence from a page, not seek a reality to substitute for it.
Education has now become the chief problem of the world, its one holy cause. The nations that see this will survive, and those that fail to do so will slowly perish. . . . There must be re-education of the will and of the heart as well as of the intellect; and the ideals of service must supplant those of selfishness and greed.
Reviewing good puzzle books is frustrating, because you get to page one of the introduction, find a curious puzzle, become engrossed for 20 minutes, miss your stop and then fail to get home in time to say goodnight to the kids.
In my situation, every time I write a sentence, I'm thinking not only of the people I ended up in college with but my siblings, my family, my school friends, the people from my neighborhood. I've come to realize that this is an advantage, really: it keeps you on your toes.
When entire companies embrace a growth mindset, their employees report feeling far more empowered and committed; they also receive far greater organizational support for collaboration and innovation.
Subscribe for the occasional hand-picked quote. No noise.