Democracy extends the sphere of individual freedom, socialism restricts it. Democracy attaches all possible value to each man; socialism makes each man a mere agent, a mere number. Democracy and socialism have nothing in common but one word: equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.

12 September 1848. Translation from Hayek, The Road to Serfdom. "Discours prononcé à l'assemblée constituante le 12 Septembre 1848 sur la question du droit au travail", Oeuvres complètes, vol. IX, p. 546.