More about Friedrich Hayek
Friedrich Hayek -
The Fatal Conceit (1988)
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Whatever men live for, today most live only because of the market order.
That order generated without design can far outstrip plans men consciously contrive
Without the rich - without those who accumulated capital - those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any other known substitute for the market order could sustain the current population of the world.
Quote of the day
A pure mathematical series would be one in which each term is derived from the preceding term by a rule.
May 8, 1899
March 23, 1992
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