It is now often said that democracy will not tolerate “capitalism.” If “capitalism” means here a competitive system based on free disposal over priva… - F.A. Hayek

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It is now often said that democracy will not tolerate “capitalism.” If “capitalism” means here a competitive system based on free disposal over private property, it is far more important to realize that only within this system is democracy possible. When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.

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About F.A. Hayek

Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian, later British, economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the 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". (Nobel Memorial Prize, 1974)

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There will always exist inequalities which will appear unjust to those who suffer from them, disappointments which will appear unmerited, and strokes of misfortune which those hit have not deserved. But when these things occur in a society which is consciously directed, the way in which people will react will be very different from what it is when they are nobody's conscious choice.

So far as I personally am concerned I had better state that I feel as little entitled to assert as to deny the existence of what others call God, for I must admit that I just do not know what this word is supposed to mean. I certainly reject every anthropomorphic, personal or animistic interpretation of the term, interpretations through which many people succeed in giving it a meaning. The conception of a man-like or mind-like acting being appears to me rather the product of an arrogant overestimation of the capacities of a man-like mind. [...]
I long hesitated whether to insert this personal note here, but ultimately decided to do so because support by a professed agnostic may help religious people more unhesitatingly to pursue that conclusions that we do share. Perhaps what many people mean in speaking of God is just a personification of that tradition of morals or values that keeps their community alive.

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Everything which might cause doubt about the wisdom of the government or create discontent will be kept from the people. The basis of unfavorable comparisons with elsewhere, the knowledge of possible alternatives to the course actually taken, information which might suggest failure on the part of the government to live up to its promises or to take advantage of opportunities to improve conditions — all will be suppressed. There is consequently no field where the systematic control of information will not be practiced and uniformity of views not enforced.

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