Welcome to Medary.com Wednesday, October 27 2021 @ 12:45 AM CST

Thought for the day

  • Contributed by:
  • Views: 1,955
From The Road To Serfdom, by F. A. Hayek, 1944, Fiftieth Anniversary Edition, 1994, The University of Chicago Press.

The old socialist leaders, who had always regarded their parties as the natural spearhead of the future general movement toward socialism, found it difficult to understand that with every extension in the use of socialist methods the resentment of large poor classes should turn against them. But while the old socialist parties, or the organized labor in particular industries, had usually not found it unduly difficult to come to an understanding for joint action with the employers in their particular industries, very large classes were left out in the cold. To them, and not without some justification, the more prosperous sections of the labor movement seemed to belong to the exploiting rather than to the exploited class.

Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.