Quote for Today

Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one’s government is not necessarily to secure one’s freedom.

Friedrich August von Hayek, economist, philosopher

Friedrich August von Hayek was born in Austria-Hungary as Friedrich August von Hayek and frequently referred to as F. A. Hayek, was an Austrian, later British,  economist and philosopher best known for his defence of classical liberalism. Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his “pioneering work in the theory of money and economic fluctuations and … penetrating analysis of the interdependence of economic, social and institutional phenomena”.

Hayek was a major political thinker of the twentieth century, and his account of how changing prices communicate information which enables individuals to co-ordinate their plans is widely regarded as an important achievement in economics.

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