Capitalism is about incentives. Stopping the stupidity of socialism is a big incentive
Economist Friedrich Hayek said that, "If socialists understood economics, they wouldn’t be socialists." This idea captures a truth worth serious consideration. Too many people have lost sight of basic economic principles and, as a result, are increasingly attracted to the easy answers offered by socialism.
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Economist Friedrich Hayek said that, "If socialists understood economics, they wouldn’t be socialists." This idea captures a truth worth serious consideration. Too many people have lost sight of basic economic principles and, as a result, are increasingly attracted to the easy answers offered by socialism. They want government to provide more, regulate more, control more and redistribute more, without fully understanding the dire consequences of exactly where those policies lead.Hayek understood those consequences. The Austrian economist’s classic 1944 book, "The Road to Serfdom," remains one of the most important warnings ever written about the dangers of central planning and collectivism.
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- What's the story?
- Economist Friedrich Hayek said that, "If socialists understood economics, they wouldn’t be socialists." This idea captures a truth worth serious consideration. Too many people have lost sight of basic economic principles and, as a result, are increasingly attracted to the easy answers offered by socialism.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 4m ago.
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Capitalism is about incentives. Stopping the stupidity of socialism is a big incentive
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