Other Schools of Thought

The misuse of science occurs when the scientist—who is competent in a special field—seeks to use his status to influence fields where he is not competent.

Out of false theories of employment, money, and interest, Keynes has distilled a fantastically wrong theory of capitalism and of a socialist paradise erected out of paper money.

Throughout history groups of men calling themselves 'the government' have attempted to gain a compulsory monopoly of the commanding heights of the economy and society.

I submit that the naïfs who stubbornly refuse to examine the interplay of political and economic interest in government are tossing away an essential tool for analyzing the world in which we live.

The laws of economics are not suspended by bureaucrats' political interference, and prices do not respond to their dictates. Rather, economic chaos results. 

Rather than look to the state to transform flawed creatures into saints, we should strive to take human beings as they are and direct their energies into productive outlets rather than antisocial outlets.

Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.

In such proposals as let us raise farm prices, let us raise wage rates, let us lower profits, let us curtail the salaries of executives the "us" ultimately refers to the police.

Hayek relentlessly scrutinizes and exposes the weak and patchwork structure of Keynes's theoretical arguments and then dismantles it brick by brick, leaving nothing standing.

He is the man who wants alcoholic liquors for any honest purpose whatsoever, who would use his liberty without abusing it, who would occasion no public question, and trouble nobody at all.