I confess that I prefer true but imperfect knowledge, even if it leaves much indetermined and unpredictable, to a pretence of exact knowledge that is likely to be false. The credit which the apparent conformity with recognized scientific standards can gain for seemingly simple but false theories may, as the present instance shows, have grave consequences.
About this quote
- What does it mean?
- Hayek prefers imperfect but true knowledge over false claims of exactness. He warns that theories appearing scientific but false can have serious consequences.
- In plain terms
- Accept unknown truth over false certainty that looks scientific.
- What can you take from it?
- Humility about knowledge prevents costly mistakes.
Where it applies
Putting it to work
Questions to consider
- How do you handle uncertainty?
- Is false confidence better than doubt?
Another view
Sometimes false certainty leads to action while uncertainty leads to paralysis.
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