The main merit of the individualism which [Adam Smith] and his contemporaries advocated is that it is a system under which bad men can do least harm. It is a social system which does not depend for its functioning on our finding good men for running it, or on all men becoming better than they now are, but which makes use of men in all their given variety and complexity, sometimes good and sometimes bad, sometimes intelligent and more often stupid. [Individualism and Economic Order, pp. 11-12]
Sunday, February 12, 2017
Hayek Quote of the Day
From Hayek's "Individualism: True and False:"