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Thought for the day

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From The Road To Serfdom, by F. A. Hayek, 1944, Fiftieth Anniversary Edition, 1994, The University of Chicago Press.

In the sphere of executive work the problem of sanctions for negligence arises in a different but no less serious form. It has been well said that, while the last resort of a competitive economy is the bailiff, the ultimate sanction of a planned economy is the hangman.

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