3 Friedrich Hayek Quotes on Competition

Friedrich Hayek quotes on competition

10. Is it really likely that a National Planning Officer would have a better judgement of 'the number of cars, the number of generators, and the quantities of frozen foods we are likely to require in, say, five years,' than Ford or General Motors etc., and, even more important, would it even be desirable that various companies in an industry all act on the same guess?

44. It would clearly not be an improvement to build all houses exactly alike in order to create a perfect market for houses, and the same is true of most other fields where differences between the individual products prevent competition from ever being perfect.

    Attribution disputed; shown as originally published.

160. There is, in a competitive society, nobody who can exercise even a fraction of the power which a socialist planning board would possess.

     Attribution disputed; shown as originally published.