Thought for the day
- Thursday, December 10 2009 @ 08:13 AM CST
- Contributed by: filbert
- Views: 3,855
From The Road To Serfdom, by F. A. Hayek, 1944, Fiftieth Anniversary Edition, 1994, The University of Chicago Press.
Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.
It is now said that democracy will not tolerate "capitalism." If "capitalism" means here a competitive system based on free disposal over private property, it is far more important to realize that only within this system is democracy possible. When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.
UPDATE: I mis-posted yesterday's TFTD as today's as well, and just now noticed. Mea culpa. My bad.