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Quotation of the Day…

Posted By Don Boudreaux On April 14, 2013 @ 8:17 am In Economics,Hayek | Comments Disabled

… is from page 125 of the 2007 Definitive Edition (Bruce Caldwell, ed.) of F.A. Hayek’s classic 1944 volume, The Road to Serfdom [1]:

The ultimate ends of the activities of reasonable beings are never economic.  Strictly speaking, there is no “economic motive” but only economic factors conditioning our striving for other ends.  What in ordinary language is misleadingly called the “economic motive” means merely the desire for general opportunity, the desire for power to achieve unspecified ends.

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[1] The Road to Serfdom: http://www.amazon.com/Road-Serfdom-Documents-Definitive-Collected/dp/0226320553/ref=sr_1_1?ie=UTF8&s=books&qid=1276786709&sr=1-1

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