Friedrich Hayek Quotes

Since scarcity is the basic economic problem, if it does not exist then there is no reason for my economics course. Devoting time to the study of how people use limited resources to fulfill unlimited wants and needs should help us to discover how to best utilize the resources we have at our disposal.

Natural resources must be so distributed, by way of auction or otherwise, that they serve a larger public purpose.

Obviously, the highest type of efficiency is that which can utilize existing material to the best advantage.

The free market is the most efficient for utilizing resources and responding to needs, but there are many human needs which find no place on the market.

The optimal use of natural resources can be made only if there is a well-thought-out policy framework for their exploitation towards a particular end use.

The resources of a university, of a college, should not be wasted in merely academic pursuits.

Any material element or resource which, in order to become of use or value to men, requires the application of human knowledge and effort, should be private property-by the right of those who apply the knowledge and effort.

Understand clearly that when a great need appears a great use appears also; when there is small need there is small use; it is obvious, then, that full use is made of all things at all times according to the necessity thereof.

It is not what we have that will make us a great nation; it is the way in which we use it.

The existence of poverty in the US should not be accepted as a necessary evil or insoluble problem, but should be considered a crisis requiring emergency measures. It is a matter of will and priorities, not a matter of resources.

There is nothing new about poverty. What is new, however, is that we have the resources to get rid of it.

It makes no sense to spend precious resources on propping up loss-making, state-owned enterprises when they could be used to get more children into school or provide more midwives to reduce the number of mothers dying in childbirth.

If you spend your time, worth $20-25 per hour, doing something that someone else will do for $10 per hour, it's simply a poor use of resources.

The country that's been most successful at that is Norway. The more typical countries are those in the Middle East where a small group seizes those resources, uses it to buy arms to make sure that they can oppress the remainder, and you get these great inequalities. So Canada is among the better performing of the natural resource economies, but it's still not up to the best performing.

I'm not giving away oil for free. Just using oil, first to benefit our people, to relieve poverty.

Millions of individuals making their own decisions in the marketplace will always allocate resources better than any centralized government planning process.

I dream ...of a world where we can commit our social resources to the development of human life and not to its destruction

We can't run out of resources. Resources exist when the human mind sees how to use something.

We often wait for the resources before we make a move.

Let's help people in this country with the resources we have.

Society is best served when the means of production are in the possession of those who know how to use them best.

Markets are the best way to allocate resources.

The faculty of using my resources well diminishes when their number grows.

It is much easier to put existing resources to better use, than to develop resources where they do not exist.

Each system will depend on resources available, not from the bottom up or top down. In other words, if you put 500 passengers in an airplane that's designed to carry 100, it won't get off the ground. So all decisions are made based upon the physical equipment you're working with, or the environmental resources available. They're not made by Fresco or any other person. They're arrived at by studies and research.