The Dangers of Top-Down Rule-Making, According to Hayek
I'm just now starting to read Hayek's The Road to Serfdom, but stopped in my tracks and decided that this paragraph from the Forward is a keeper. Now I'm really looking forward to seeing how Hayek himself expressed these ideas.
Hayek employed economics to investigate the mind of man, using the knowledge he had gained to unveil the totalitarian nature of socialism and to explain how it inevitably leads to ‘serfdom’. His greatest contribution lay in the discovery of a simple yet profound truth: man does not and cannot know everything, and when he acts as if he does, disaster follows. He recognised that socialism, the collectivist state, and planned economies represent the ultimate form of hubris, for those who plan them attempt – with insufficient knowledge – to redesign the nature of man. In so doing, would-be planners arrogantly ignore traditions that embody the wisdom of generations; impetuously disregard customs whose purpose they do not understand; and blithely confuse the law written on the hearts of men – which they cannot change – with administrative rules that they can alter at whim. For Hayek, such presumption was not only a ‘fatal conceit’, but also ‘the road to serfdom’.
From Edwin Feulner, Jr.'s Forward to Hayek's "The Road to Serfdom."

