Thought for the day

From The Road To Serfdom, by F. A. Hayek, 1944, Fiftieth Anniversary Edition, 1994, The University of Chicago Press.


It is a revealing fact that few planners are content to say that central planning is desirable. Most of them affirm that we can no longer choose but are compelled by circumstances beyond our control to substitute (central) planning for competition. The myth is deliberately cultivated that we are embarking on the new course not out of free will but because competition is spontaneously eliminated by technological changes which we can neither reverse nor should we wish to prevent. This argument is rarely developed at any length–it is one of the assertions taken over by one writer from another until, by mere iteration, it has come to be accepted as a common fact. It is, nevertheless, devoid of foundation.

Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.