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Hayek was asked to leave “a statement for the future generations.” His response is brilliant: “Modern civilization which enables us to maintain 4 billion people was made possible by the institution of private property. It is only thanks to this institution that we achieved an extensive order far exceeding... show more
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33 Kommentare

he also gave us this bit of wisdom

"When you ignore reality, reality doesn't ignore you." Socialism always fails, because a society built on greed and envy rather than virtue and hard work doesn't have a chance.

Reminds me of a quote from Edmund Burke: “A law against property is a law against industry.”

Property taxes are the opposite of private property — end property taxes.

We have failed so badly with our education system to the extent that this is no longer common understanding or in agreement

“If you destroy that moral basis, which consists in the recognition of private property, we will destroy the sources which nourish present-day mankind, and create a catastrophe of starvation beyond anything mankind has yet experienced.” -F.A. Hayek

Another simplistic ‘tragedy of the commons’ fairy tale story. Why did elites in the USA spend so much money promoting the simple-minded theories of Hayek and Friedman? Because they could see these theories would allow them to accumulate unlimited wealth and power, that’s all.

@profjasonpotts Here I thought it was made possible by Haber-Bosch.

Wilhelm Ropke on the prerequisites that markets require; markets are unable to spontaneously generate them...

@naval The real problem with Humanity is this- We have Stone-Age Emotions, medieval Institutions, and Godlike technology. And it is terrifically dangerous, and it is now approaching a point of crisis overall. - Edward Wilson

Brilliant by half. Private property is brilliant. Extending it to the elimination of the public good, eclipses that brilliance with the current fog of crony capitalism and nihilistic self interest.

The World Economic Forum and how to make global fascism look nice to new generations...

Private property is foundational to a free society.

However true this is, the institution of private property is foundational to the history of civilization and to material progress. But no concept applies without limits—the point at which it undermines its own justification. Slavery? Ideas and truth? IP—when it loses balance? Ownership of the Pythagorean theorem? Not to belittle acknowledgment of origin, but ownership that demands rent?! The concept of the private is semantically entangled with the public. The private exercise of vast resources by individuals therefore demands responsibility before the public—no less than what we demand from public officeholders. Case in point: Elon Musk and DOGE.

Friedrich Hayek left a practical warning, not an ideology. Property isn’t perfection—it’s the operating system that feeds billions. 하이에크의 말은 이념이 아니라 운영 매뉴얼이다. 사유재산은 완벽해서가 아니라, 수십억을 먹여 살리는 시스템이기 때문이다.

OMG Hayek was an idiot boiled the entire history of human of civilisations down to private property ... unbelievable. What a meaningless, reductionist, load of BS.

@naval What kind of starvation? Like literal starvation, without food?

This is utter nonsense, private ownership of land is a huge and crippling disability on any society. Socially owned and co-operative models are far more efficient.

Every right stems from a personal right.

The extreme environmentalists may wish for exactly this.

Even to the end of his life, Hayek still failed to differ personal and private property. Apparently, he failed even to learn that such categories can exist. Even after a century, neither do his followers.

I wish I could walk younger people thru the significance of this and differing systems

the private property → coordination → prosperity link is almost invisible because it works. catastrophes are always visible, efficiency is felt as just how things are

"thou shalt not steal" Started it all

The capitalist system - especially from western nations - fully supports the 8.3 billion people on this planet. Remove that system and billions will die. Billions. With greater deaths in poorer African countries. Just another reason why importing people from socialist countries is morally and ethically wrong.

What is meant by *private property* here—everything owned by a few plutocrats, like BlackRock? ‘Owning’ homes that can be ‘repossessed’ by usurers? - not *lenders* since no money is *borrowed*. “Free markets” only serve to concentrate wealth, just like ‘socialism’:

Hayek was one of the brilliant minds in human history. ❤️

“No man is safe in his opinions, his person, his faculties or his possessions when an excess of power prevails.” James Madison

Humans exist for 300.000 years. Animals for 540 million years. Almost 2000 times longer, without private property.

Modern civilization = Western civilisation and both are oxymorons. Or, as Gandhi said, "Western civilisation? That would be nice "

Modern civilization, which enables us to maintain 8 billion people (not 4 billion anymore), was made possible by the discovery of oil fields in the 1870s and the ingenuity of our minds, which discovered ways to harness vast amounts of energy and apply it imaginatively to produce a myriad of goods that satisfy our needs. Modern institutions and private property provided the social structure that allowed a few to capture the product of the many.

Willfully ignorant people don’t care They want what they want and don’t really care what it may bring about They have been so utterly brain washed that it does not matter if they are met with logic or reason or facts or history It doesn’t matter They want what they want 🤨

Hopefully all the plant inbreeding for hybridizing sterile stock doesn’t escape the lab…
