Friedrich Hayek Quotes
When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
Hayek, Friedrich A. The Road to Serfdom. University of Chicago Press, 1944.
This quotation is very interesting in that many of Mrs. Roosevelt’s detractors constantly accused her of being a communist. They obviously had not read this column of any of the many where she shows antipathy to Communism.
This quotation is typical of Mrs. Roosevelt’s strong criticism of Communism. However despite these positions, many of her political enemies continued to call her a Communist or a “fellow traveler”—one who tended to support Communism.
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.