Quote of the Day
The path away from economic freedom is, as Hayek long ago demonstrated, the road to serfdom. The road may be a long one: the pace may be swift or slow: but the destination cannot be changed. State ownership, state monopolies, state regulation and state planning, through the centralisation of economic power, inevitably lead to economic failure. They inevitably increase both the temptation and the scope for abuses of political power until freedom itself is threatened. The planned economies, the controlled societies which socialism requires, pervert what are truly economic decisions for the market into political decisions for the politician or the bureaucrat. The fruits of centralised economics are corruption, poverty and servility—and in the socialist society the only medicine which may be prescribed is heavier doses of the same socialist poison.
Norman Tebbit in 1985
posted by The Nameless Libertarian @ 9:51 am
3 Comments
3 Comments:
Interesting post.
I never took much notice of old Norman but he`s a wise old bird.
'State ownership, state monopolies, state regulation and state planning, through the centralisation of economic power, inevitably lead to economic failure'
- what about the rail system? A public good, and a public monopoly. Now privatised and run by private companies, and as a result, rinsing the passenger for every penny. I posit that the Tory thirst for privatisation should have know some bounds ie. monopolies.
Moai,
I don't have an easy answer. So I'm going to ask everyone else what they think. Hold on...
TNL
Post a Comment
Subscribe to Post Comments [Atom]
<< Home