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Quotation of the Day…

Posted By Don Boudreaux On January 16, 2014 @ 8:11 am In Hayek,Seen and Unseen | Comments Disabled

… is from page 24 of F. A. Hayek’s 1948 collection, Individualism and Economic Order [1]; in particular, it’s from Hayek’s wisdom-packed 1945 lecture “Individualism: True and False”:

Man in a complex society can have no choice but between adjusting himself to what to him must seem the blind forces of the social process and obeying the orders of a superior.  So long as he knows only the hard discipline of the market, he may well think the direction by some other intelligent human brain preferable; but, when he tries it, he soon discovers that the former still leaves him at least some choice, while the latter leaves him none, and that it is better to have a choice between several unpleasant alternatives than being coerced into one.

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[1] Individualism and Economic Order: http://books.google.com/books?id=ZLFEIdaZZD0C&pg=PA16&lpg=PA16&dq=hayek+tocqueville+%22a+new+form+of+servitude%22&source=bl&ots=vTZ73qZuTZ&sig=4iJygxPnJndC-JUiua1tKLcUy2E&hl=en&ei=JQ7ETsKmNcWDsgKQ5tHqCg&sa=X&oi=book_result&ct=result&resnum=4&ved=0CC0Q6AEwAw#v=onepage&q&f=false

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