It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only those individuals know.

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• Friedrich August von Hayek:

  We have indeed at the moment little cause for pride: as a profession we have made a mess of things.

• Friedrich August von Hayek:

  It can hardly be denied that such a demand quite arbitrarily limits the facts which are to be admit

• Friedrich August von Hayek:

  We know: of course, with regard to the market and similar social structures, a great many facts whi

• Friedrich August von Hayek:

  We know, in other words, the general conditions in which what we call, somewhat misleadingly, an eq

• Friedrich August von Hayek:

  Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the

• Friedrich August von Hayek:

  I regard it in fact as the great advantage of the mathematical technique that it allows us to descr

• Friedrich August von Hayek:

  The credit which the apparent conformity with recognized scientific standards can gain for seemingl

• Friedrich August von Hayek:

  This means that to entrust to science - or to deliberate control according to scientific principles

• Friedrich August von Hayek:

  The progress of the natural sciences in modern times has of course so much exceeded all expectation

• Friedrich August von Hayek:

  To act on the belief that we possess the knowledge and the power which enable us to shape the proce