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Quotation of the Day…

… is from page 180 of the 2014 collection – The Market and Other Orders (Bruce Caldwell, ed.) – of some of F.A. Hayek’s most influential essays; specifically, it’s from Hayek’s 1955 lectures, for the National Bank of Egypt, entitled “The Political Ideal of the Rule of Law”:

The direction [by government] of economic activity thus necessarily involves discrimination between persons, the creation of monopoly and privilege., while the aim of the Rule of Law is the abolition of all privilege, be it in favor of the strong or of the weak.  And it is no less fatal to freedom if exemption from general legal rules is granted to the weak than when it is granted to the strong.  Once the door is opened to differentiation on the ground of deserts or needs, it will be arbitrary will instead of objective rule which will govern men.