Monday, 31 March 2014

Friedrich Hayek

Friedrich Hayek
Friedrich  Hayek (1899 - 1992) - An Austrian and British economist and philosopher known for his defense of classical liberalism and free-market capitalism againsted socialist and collectivist thoughts. He was father of neoliberalism,  the Nobel Prize winning economist  (1974) who believed that slumps and depressions are made worse by government intervention.


 (Photo; Friedrich von Hayek receives his Nobel Prize in Economy from Swedish King Carl Gustaf, December 1974.)


A society that does not recognise that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom.
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A policy of freedom for the individual is the only truly progressive policy.

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Freedom granted only when it is known beforehand that its effects will be beneficial is not freedom.

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 We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.
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Well, I would say that, as long-term institutions, I am totally against dictatorships. But a dictatorship may be a necessary system for a transitional period. At times it is necessary for a country to have, for a time, some form or other of dictatorial power. As you will understand, it is possible for a dictator to govern in a liberal way. And it is also possible for a democracy to govern with a total lack of liberalism. Personally I prefer a liberal dictator to democratic government lacking liberalism.
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