Contributed by: filbert Monday, November 23 2009 @ 11:21 AM CST
From The Road To Serfdom, by F. A. Hayek, 1944, Fiftieth Anniversary Edition, 1994, The University of Chicago Press.
Indeed, one of the main arguments in favor of competition is that it dispenses with the need for “conscious social control” and that it gives individuals a chance to decide whether the prospects for a particular occupation are sufficient to compensate for the disadvantages and risks connected with it.
Excerpted under Fair Use for purposes of non-commercial education, discussion and comment. Any transcription or typographical errors are mine.