Sunday, August 26, 2012
Hayek: Bureaucrats & Millionaires
“The power which a multiple millionaire, who may be my neighbour and perhaps my employer, has over me is very much less than that which the smallest functionaire possesses who wields the coercive power of the state, and on whose discretion it depends whether and how I am to be allowed to live or to work. And who will deny that a world in which the wealthy are powerful is still a better world than one in which only the already powerful can acquire wealth?”
– Friedrich August von Hayek
(1899-1992), Nobel Laureate of Economic Sciences 1974
Source: The Road To Serfdom, P. 115.