It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.

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• Friedrich August von Hayek:

  Our moral traditions developed concurrently with our reason, not as its product.

• Friedrich August von Hayek:

  It is rather a problem of how to secure the best use of resources known to any of the members of so

• 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