Revisiting Hayek

To many who have watched the transition from socialism to fascism at close quarters the connection between the two systems has become increasingly obvious, but in the (Western) democracies the majority of people still believe that socialism and freedom can be combined. They do not realize that democratic socialism, the great utopia of the last few generations, is not only unachievable, but that to strive for it produces something utterly different - the very destruction of freedom itself. As has been aptly said: ‘What has always made the state a hell on earth has been precisely that man has tried to make it his heaven.' - F.A. Hayek, The Road to Serfdom1Friedrich Hayek was an Austrian economist, philosopher and intellectual considered to be one of the most important economists and political philosophers of the twentieth century. He shared the 1974 Nobel Prize in Economics for his pioneering work in the theory of money and economic fluctuations.2 Hayek's work has influenced world...(Read Full Article)