It is rarely remembered

It is rarely remembered now that socialism in its beginnings was frankly authoritarian. It began quite openly as a reaction against the liberalism of the French Revolution. The French writers who laid its foundation had no doubt that their ideas could be put into practice only by a strong dictatorial government. The first of modern … Read more

The advantage of a

The advantage of a free market is that it allows millions of decision-makers to respond individually to freely determined prices, allocating resources – labor, capital and human ingenuity – in a manner that can’t be mimicked by a central plan, however brilliant the central planner. Friedrich August von Hayek