"I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation"
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The subtext is a warning aimed at his own profession: don’t confuse formal elegance with empirical mastery. You can know the “general character of a pattern” (how incentives ripple, how prices coordinate, how feedback loops amplify shocks) while remaining “ignorant” of the values that decide which specific outcome shows up on Tuesday. That’s pure Hayek: knowledge is dispersed, local, and often tacit; the economy is a discovery process, not a controllable machine.
Context matters. Writing in the shadow of mid-century planning debates and the growing prestige of econometrics, Hayek is carving out a defensible role for theory: models as maps, not photographs. The rhetorical move is subtle but strategic. He grants mathematics legitimacy, then uses it to argue against overconfident policy and technocratic hubris. The equation becomes a confession of limits - and a claim that acknowledging those limits is, in fact, the most scientific posture available.
Quote Details
| Topic | Reason & Logic |
|---|---|
| Source | Help us find the source |
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Citation Formats
APA Style (7th ed.)
Hayek, Friedrich August von. (2026, January 18). I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation. FixQuotes. https://fixquotes.com/quotes/i-regard-it-in-fact-as-the-great-advantage-of-the-22666/
Chicago Style
Hayek, Friedrich August von. "I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation." FixQuotes. January 18, 2026. https://fixquotes.com/quotes/i-regard-it-in-fact-as-the-great-advantage-of-the-22666/.
MLA Style (9th ed.)
"I regard it in fact as the great advantage of the mathematical technique that it allows us to describe, by means of algebraic equations, the general character of a pattern even where we are ignorant of the numerical values which will determine its particular manifestation." FixQuotes, 18 Jan. 2026, https://fixquotes.com/quotes/i-regard-it-in-fact-as-the-great-advantage-of-the-22666/. Accessed 12 Feb. 2026.
