Quotessence
Home / Quotes / Quote by Friedrich August von Hayek

Quote by Friedrich August von Hayek

“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 freedom.”

Quote by Friedrich August von Hayek

Author

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

You May Also Like

“Sellers in general maintain the quality of their products and services for fear of losing customers otherwise. But, when price controls create a situation where the amount demanded is greater than the amount supplied - a shortage - fear of losing customers is no longer as strong an incentive. For example, landlords typically reduce painting and repairs when there is rent control, because there is no need to fear vacancies when there are more tenants looking for apartments than there are apartments available.”