Notable Quote – Kristian Niemietz

Socialists usually react with genuine irritation when a political opponent mentions an earlier, failed socialist project. They cannot see this is anything other than a straw man, and a cheap shot. As a result, they refuse to address the question why those attempts have turned out the way they did. According to contemporary socialists, previous socialist leaders simply did not really try, and that is all there is to know.

So no Socialist has gotten it right in 140 years – why is that, I ponder?

They are wrong. The Austro-British economist Friedrich Hayek already showed in 1944 why socialism must always lead to an extreme concentration of power in the hands of the state, and why the idea that this concentrated power could be democratically controlled was an illusion. Were Hayek to come back from the dead today, he would probably struggle a bit with the iPhone, Deliveroo and social media – but he would instantly grasp the situation in Venezuela.

Kristian Niemietz

(H/T: Cafe Hayek)