Friedrich August von HayekFriedrich August von Hayek, (1899-1992), Nobel Laureate of Economic Sciences 1974

Friedrich August von Hayek Quote

“To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies -- these tasks provide a wide and unquestioned field for state activity.”

Friedrich August von HayekFriedrich August von Hayek
~ Friedrich August von Hayek

The Road to Serfdom

Ratings and Comments

Mike, Norwalk

Conditions for effective competition exist as a lawful state of nature without state activity. Fraud and deceptions' lawful scope of interaction falls within the jurisdiction of justice (already happened, not preventative). Preventative enforcement, as a political tool is tyranny. Monopolies, as a stand alone topic, neither need breaking up or otherwise. Monopolies, as unlawful exterminators of free enterprise, are to be dealt with individually at law and justice.

E Archer, NYC

Mike, I think that is what Hayek is saying -- that there is plenty for the state to do preventing monopolies, fraud, deception, etc. and promoting competition rather than 'fixing the game.' Of course, the issue on whether the state can be trusted is another thing altogether.

Mike, Norwalk

Archer thanks, that general thought had crossed my mind. My comment was to the stand alone statement.


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