I feared that such a prize, as I believe is true of the activities of some of the great scientific foundations, would tend to accentuate the swings of scientific fashion. This apprehension the selection committee has brilliantly refuted by awarding the prize to one whose views are as unfashionable as mine are.
About this quote
- What does it mean?
- Hayek expected scientific prizes might push fashion trends, but he was pleased the committee chose someone with unfashionable views like his.
- In plain terms
- He worried awards would follow trends, but was happy the prize went to someone with unpopular ideas like his.
- What can you take from it?
- Scientific recognition should support unconventional ideas, not just popular trends.
Where it applies
Putting it to work
Questions to consider
- Should scientific awards challenge or reinforce consensus?
- How do fashion cycles affect scientific progress?
Another view
Prizes inherently create trends regardless of the recipient's views.
More from Friedrich Hayek
I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it.
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