Saturday, November 23, 2024 Text is available under the CC BY-SA 3.0 licence.

Friedrich Hayek

« All quotes from this author
 

The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The economic problem of society is thus not merely a problem of how to allocate "given" resources — if "given" is taken to mean given to a single mind which deliberately solves the problem set by these "data." 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 these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality.

 
Friedrich Hayek

» Friedrich Hayek - all quotes »



Tags: Friedrich Hayek Quotes, Authors starting by H


Similar quotes

 

People often ask, "What is the single most important environmental/population problem facing the world today?" A flip answer would be, "The single most important problem is our misguided focus on identifying the single most important problem!"

 
Jared Diamond
 

The answer is in the problem, not away from the problem. I go through the searching, analysing, dissecting process, in order to escape from the problem. But, if I do not escape from the problem and try to look at the problem without any fear or anxiety, if I merely look at the problem — mathematical, political, religious, or any other — and not look to an answer, then the problem will begin to tell me. Surely, this is what happens. We go through this process and eventually throw it aside because there is no way out of it. So, why can’t we start right from the beginning, that is, not seek an answer to a problem? — which is extremely arduous, isn’t it? Because, the more I understand the problem, the more significance there is in it. To understand, I must approach it quietly, not impose on the problem my ideas, my feelings of like and dislike. Then the problem will reveal its significance. Why is it not possible to have tranquillity of the mind right from the beginning?

 
Jiddu Krishnamurti
 

"The fundamental problem is not that there are limits on voicing different opinions here. The problem is that the whole society is dying through lack of responsibility or involvement."

 
Ai Weiwei
 

It seems to me that the real problem is the mind itself, and not the problem which the mind has created and tries to solve. If the mind is petty, small, narrow, limited, however great and complex the problem may be, the mind approaches that problem in terms of its own pettiness. If I have a little mind and I think of God, the God of my thinking will be a little God, though I may clothe him with grandeur, beauty, wisdom, and all the rest of it. It is the same with the problem of existence, the problem of bread, the problem of love, the problem of sex, the problem of relationship, the problem of death. These are all enormous problems, and we approach them with a small mind; we try to resolve them with a mind that is very limited. Though it has extraordinary capacities and is capable of invention, of subtle, cunning thought, the mind is still petty. It may be able to quote Marx, or the Gita, or some other religious book, but it is still a small mind, and a small mind confronted with a complex problem can only translate that problem in terms of itself, and therefore the problem, the misery increases. So the question is: Can the mind that is small, petty, be transformed into something which is not bound by its own limitations?

 
Jiddu Krishnamurti
 

I must say that I have been deeply gratified by reading a book [Hayek's "The Sensory Order"] of which I had not been aware when I wrote my little essay on group selection theory … I was deeply impressed … I recommend this book to your attention [i.e. The American Academy of Arts and Sciences], as an exercise in profound thinking by a man who simply considers knowledge for its own sake. What impressed me most is his understanding that the key to the problem of perception is to comprehend the nature of classification. Taxonomists have struggled with this problem many times, but I think von Hayek considered this problem in a broader sense.

 
Friedrich Hayek
© 2009–2013Quotes Privacy Policy | Contact