Quote unquote: Friedrich Hayek on economic power
By Alex Singleton on Mar 2, 2007 in Economics
“What is called economic power, while it can be called an instrument of coercion, is, in the hands of private individuals, never exclusive or complete power, never power over the whole life of a person. But centralised as an instrument of political power it cretes a degree of dependence scarcely distinguishable from slavery.” - Friedrich Hayek, The Road to Serfdom
