“It is one of the great tragedies of our time that the masses have come to believe that they have reached their high standard of material welfare as a result of having pulled down the wealthy, and to fear that the preservation or emergence of such a class would deprive them of something they would otherwise get and which they regard as their due.” – F.A. Hayek, The Constitution of Liberty, chapter 8
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Hayek uses the term ” the masses,” which reminds me of a favorite quote attributed to Mark Twain, “If you ever find yourself on the side of the majority [the masses], it is time to pause, and reflect.”
That’s a good quote and a good rule-of-thumb to go by.
Love this quote — am reblogging it.
Thanks!
Reblogged this on politicsandreason and commented:
Gone now 20 years, I wonder what this great economist would say to what is going on today in America, with the class warfare being instigated and maintained at the very highest levels of government..
Gotta love Hayek, DD!
Great quote.
***BTW, I re-published your old “Calvinball” post (which I ‘stole’ from you!) again today.
Seems to fit perfectly with what we’re seeing right now…
You are more than welcome to, JTR.