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To be controlled in our economic pursuits means to be controlled in everything.
-Friedrich August Von Hayek
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To Be Controlled In Our Economic Pursuits

Friedrich August Von Hayek
To be controlled in our economic pursuits means to be controlled in everything.
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Mean Historical Economics

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The economic borderlines of our world will not be drawn between countries, but around economic domains. along the twin paths of globalization and decentralization, the economic pieces of the future are being assembled in a new way. not what is produced by a country or in a country will be of importance, but the production within global economic domains, measured as gross domain products. the global market demands a global sharing of talent. the consequence is mass customization of talent and education as the number one economic priority for all countries
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Whether in the intellectual pursuits of science or in the mystical pursuits of the spirit, the light beckons ahead, and the purpose surging in our nature responds.
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The appearance presented by the streets of london an hour before sunrise, on a summer's morning, is most striking even to the few whose unfortunate pursuits of pleasure, or scarcely less unfortunate pursuits of business, cause them to be well acquainted with the scene. there is an air of cold, solitary desolation about the noiseless streets which we are accustomed to see thronged at other times by a busy, eager crowd, and over the quiet, closely-shut buildings, which throughout the day are swarming with life and bustle, that is very impressive.
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It is only possible to succeed at second-rate pursuits - like becoming a millionaire or a prime minister, winning a war, seducing beautiful women, flying through the stratosphere, or landing on the moon. first-rate pursuits - involving, as they must, trying to understand what life is about and trying to convey that understanding - inevitably result in a sense of failure. a napoleon, a churchill, or a roosevelt can feel himself to be successful, but never a socrates, a pascal, or a blake. understanding is forever unattainable.
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Without calculation, economic activity is impossible. since under socialism economic calculation is impossible, under socialism there can be no economic activity in our sense of the word all economic change, therefore, would involve operations the value of which could neither be predicted beforehand nor ascertained after they had taken place. everything would be a leap in the dark. socialism is the renunciation of rational economy.
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Viewed as a means to the end of political freedom, economic arrangements are important because of their effect on the concentration or dispersion of power. the kind of economic organization that provides economic freedom directly, namely, competitive capitalism, also promotes political freedom because it separates economic power from political power and in this way enables the one to offset the other
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