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Quote by Friedrich August von Hayek

“If this is the degree of inflation planned for in advance, the real outcome is indeed likely to be such that most of those who will retire at the end of the century will be dependent on the charity of the younger generation. And ultimately not morals but the fact that the young supply the police and the army will decide the issue: concentration camps for the aged unable to maintain themselves are likely to be the fate of an old generation whose income is entirely dependent on coercing the young.”

Quote by Friedrich August von Hayek

Author

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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