Tuesday, 10 February 2026

Collectivism v Democracy

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 realise that only within this system is democracy possible. When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
~ Friedrich Hayek from The Road to Serfdom, Ch. 5

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