Thought for the day
- Tuesday, February 23 2010 @ 07:11 AM CST
- Contributed by: filbert
- Views: 2,164
From The Road To Serfdom, by F. A. Hayek, 1944, Fiftieth Anniversary Edition, 1994, The University of Chicago Press.
Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.
In the sphere of executive work the problem of sanctions for negligence arises in a different but no less serious form. It has been well said that, while the last resort of a competitive economy is the bailiff, the ultimate sanction of a planned economy is the hangman.
Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.