15 July 2017

Guaranteed Minimum Income in a Free Market Economy?

"There is no reason why in a society which has reached the general level of wealth which ours has attained...that some minimum food, shelter, and clothing, sufficient to preserve health and the capacity to work, can be assured to everybody."
- F. A. Hayek, The Road to Serfdom, edited by Bruce Caldwell, 2007, University of Chicago Press, p. 148.

F. A. Hayek is often quoted by political conservatives and libertarians, but they rarely acknowledge this quote.