You cannot successfully use your technical knowledge unless you are a — Friedrich Hayek

"All economic activity is carried out through time. Every individual economic process occupies a certain time, and all linkages between economic processes necessarily involve longer or shorter periods of time."

"I believe that the main lesson which our generation has learnt is that we must find a new limit for the activities of government, a limit which leaves ample scope for sensible experimentation but which secures the freedom of the individual as the mainspring of all social and political activity. The whole purpose of these lectures has been to suggest that we can find such a limit if we are willing to revive and develop the ancient ideal of the Rule of Law."

"The next time I met Ludwig Wittgenstein was in the spring of 1928 when the economist Dennis Robertson, who was taking me for a walk through the Fellows Gardens of Trinity College, Cambridge, suddenly decided to change course because on the top of a little rise he perceived the form of the philosopher draped over a deckchair. He evidently stood rather in awe of him, and he did not wish to disturb him."

"Yet, though the French Revolution was so largely inspired by the ideal of the Rule of Law, it is questionable whether it really helped the advance towards that ideal. In its course too many different aspirations gained influence which it was difficult to reconcile with that ideal."

"It may not be amiss to seen in my calculations of comparative productivity [between entrepreneurial economics and communist economies] verification of a prescient forecast [made by Hayek in 1935 in his essay "The Present State of the Debate".]."

"The mechanism by which the interaction of democratic decisions and their implementation by the experts often produces results which nobody has desired is a subject which would deserve much more careful attention than it usually receives."