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Quote by Friedrich August von Hayek

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Friedrich August von Hayek
Friedrich August von Hayek

Friedrich August von Hayek, born on May 8, 1899, in Austria, and died on March 23, 1992, in the United Kingdom, was one of the most distinguished economists of the 20th century. He is renowned for his profound insights into the free market economy and his critical views on socialism. more

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“Absolute power corrupts even when exercised for humane purposes. The benevolent despot who sees himself as a shepherd of the people still demands from others the submissiveness of sheep. The taint inherent in absolute power is not its inhumanity but its anti-humanity.”

“People unfit for freedom - who cannot do much with it - are hungry for power. The desire for freedom is an attribute of a "have" type of self. It says: leave me alone and I shall grow, learn, and realize my capacities. The desire for power is basically an attribute of a "have not" type of self.”