Voices of Liberty
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Friedrich Hayek: “Marxists can never understand the functioning of the market. They believe it’s the costs which determine prices. The truth is exactly the opposite: it’s prices which tell people how much cost they ought to involve... It is prices by which the knowledge of millions of people can be conveyed to others and serve as a guide to them.”
Voices of Liberty99,389 görüntüleme • 3 ay önce
Hayek on why he didn’t critique Keynes’s General Theory when it was first published: “I spent a lot of time criticizing his Treatise on Money, which came out before the General Theory, in two long journal articles. But when I published the second one, Keynes told me, ‘Oh, never mind, I no longer believe that.’ So when he came out with his General Theory, I thought I was not going to waste my time criticizing. But that book was the one which became so frightfully important. I regretted for the rest of my life that I did not return to the charge then.”
Voices of Liberty55,464 görüntüleme • 1 ay önce
A fascinating clip of Margaret Thatcher discussing & quoting Hayek during a 1996 speech in New York: “I remember very well when I was just in university reading for a science degree and Hayek, brilliant and perceptive as he was, published to an astonished world, The Road to Serfdom. He’d done the analysis. He knew where it would lead. And he turned out to be right.” “Hayek wrote: ‘How sharp a break with the whole evolution of Western civilisation the modern trend toward socialism means becomes clear if we consider it not merely against the background of the 19th century but in a longer historical perspective. We are rapidly abandoning not the views merely of Cobden and Bright, of Adam Smith and Hume, or even Locke and Milton, but one of the salient characteristics of Western civilisation as it has grown from the foundations laid by Christianity and the Greeks and the Romans. Not merely 19th- and 18th-century liberalism, but the basic individualism inherited by us from Erasmus and Montaigne, from Cicero and Tacitus, Pericles and Thucydides, is progressively relinquished.’”
Voices of Liberty47,037 görüntüleme • 1 ay önce
Jordan Peterson explains Hayek’s “knowledge problem” argument “The proposition that central planning will work is the proposition that you can substitute one expert mind for a million distributed expert minds.” “That’s obviously not the case, because each person is going to have knowledge that pertains to their locality that isn’t accessible to everyone. So it’s much better to let everyone make the decisions and sum them.”
Voices of Liberty76,277 görüntüleme • 6 ay önce
Hayek explains why the term “social justice” is meaningless: “Justice is an attribute of individual action; I can be just or unjust towards my fellow men.” “But the conception of a social justice, to expect a just result from an impersonal process which nobody can control, is meaningless and completely impossible.”
Voices of Liberty29,845 görüntüleme • 2 ay önce
Friedrich Hayek on the “mirage” of social justice: “Social justice is a demand that the state should treat different people differently in order to place them in the same position. Making equality a policy goal would force government to treat people very unequally indeed.”
Voices of Liberty141,105 görüntüleme • 1 yıl önce
“Nazism was just a peculiar form of socialism.” — Friedrich Hayek
Voices of Liberty33,529 görüntüleme • 4 ay önce
Friedrich Hayek explains why socialism fails: “Socialism assumes that all the available knowledge can be used by a single central authority.” “It overlooks that modern society is based on the utilization of widely dispersed knowledge of millions of men.”
Voices of Liberty113,349 görüntüleme • 1 yıl önce
![Hayek recalls his first meeting with Ludwig von Mises: “I came to [Mises] with a letter of introduction by von Wieser, who was my teacher and described me as a promising economist.” “Mises looked at me: ‘Promising economist? I’ve never seen you at my lectures.’”](https://image.24vids.com/tw-2078132861584933303/amplify_video_thumb/2078132769985564672/img/SyU06Mmyf0JGF2Gr.jpg)
Hayek recalls his first meeting with Ludwig von Mises: “I came to [Mises] with a letter of introduction by von Wieser, who was my teacher and described me as a promising economist.” “Mises looked at me: ‘Promising economist? I’ve never seen you at my lectures.’”
Voices of Liberty16,199 görüntüleme • 3 ay önce
“An economist who is only an economist cannot even be a good economist.” — Friedrich Hayek
Voices of Liberty18,265 görüntüleme • 5 ay önce
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