You may keep your beauty and your health, unless you destroy them yourself, or discourage them to stay with you, by using them ill.

When a new way of doing things is vastly superior to another, then the merits of change outweigh the difficulty of change. Just because something is different does not mean it is bad. If we only kept to the old, we could never improve.

Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?

Written By Friedrich August von Hayek

About us

Featured posts

Featured Topics

Quick Links