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Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats. –H.L. Mencken

Monday Quote: Sheldon Richman


SheldonRichmanAmong other grand achievements, F. A. Hayek had a remarkable career pointing out the flaws in collectivism. One of his keenest insights was that, paradoxically, any collectivist system necessarily depends on one individual (or small group) to make key social and economic decisions. In contrast, a system based on individualism takes advantage of the aggregate, or ‘collective,’ information of the whole society; through his actions each participant contributes his own particular, if incomplete, knowledge—information that could never be tapped by the individual at the head of a collectivist state.

–Sheldon Richman

–Editor of The Freeman, author, journalist

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This entry was posted on March 10, 2014 by in Quotes and tagged .

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