Friedrich Hayek Quotes
A society that does not recognise that each individual has values of his own which he is entitled to follow can have no respect for the dignity of the individual and cannot really know freedom.
Hayek, Friedrich A. The Road to Serfdom. University of Chicago Press, 1944, p. 60.
Political opponents of FDR claimed the New Deal programs would destroy individualism. That was one of the likely outcomes of the Great Depression had the New Deal programs not worked to improve the economy and bring relief to the millions of unemployed, starving and destitute people who would likely have turned to Fascism as did Italy and Germany. Roosevelt and his staff used this phrase often.
Friedrich August von Hayek CH FBA, often referred to by his initials F. A. Hayek, was an Austrian-British economist and philosopher who is best known for his defence of classical liberalism. Hayek shared the 1974 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". His account of how changing prices communicate information that helps individuals co-ordinate their plans is widely regarded as an important achievement in economics, leading to his Nobel Prize.
