Friedrich Von Hayek

"A CLAIM FOR EQUALITY OF MATERIAL POSITION CAN BE MET ONLY BY A GOVERNMENT WITH TOTALITARIAN POWERS." FRIEDRICH AUGUST VON HAYEK, AUSTRIAN-BORN BRITISH ECONOMIST NOTED FOR HIS CRITICISMS OF THE KEYNESIAN WELFARE STATE AND OF TOTALITARIAN SOCIALISM. HAYEK BELIEVED THAT THE PROSPERITY OF SOCIETY WAS DRIVEN BY CREATIVITY, ENTREPRENEURSHIP AND INNOVATION, WHICH WERE POSSIBLE ONLY IN A SOCIETY WITH FREE MARKETS. HE WAS A LEADING MEMBER OF THE AUSTRIAN SCHOOL OF ECONOMICS, WHOSE VIEWS DIFFERED DRAMATICALLY FROM THOSE HELD BY MAINSTREAM THEORISTS. HAYEK WAS REGARDED AS ONE OF THE MOST BRILLIANT AND INFLUENTIAL ECONOMISTS OF THE 20TH CENTURY. � WE SHALL NOT GROW WISER BEFORE WE LEARN THAT MUCH THAT WE HAVE DONE WAS VERY FOOLISH. � - FRIEDRICH VON HAYEK.