Friedrich Hayek Quotes


A claim for equality of material position can be met only by a government with totalitarian powers.


Citations

Friedrich A. Hayek, 1899-1992, Austrian Economist and Political Philosopher, Nobel Laureate in Economics, Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political Economy, 1982

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Friedrich Hayek
Friedrich Hayek
  • Born: May 8, 1899
  • Died: March 23, 1992
  • Nationality: Austrian
  • Profession: Economist

Friedrich August von Hayek CH FBA, often referred to by his initials F. A. Hayek, was an Austrian-British economist and philosopher who is best known for his defence of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and [...] penetrating analysis of the interdependence of economic, social and institutional phenomena". His account of how changing prices communicate information that helps individuals co-ordinate their plans is widely regarded as an important achievement in economics, leading to his Nobel Prize.