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" Socialism’s main defects are the inability of political decision-makers to make rational decisions without the information provided by prices generated by marketplace transactions; the misalignment of incentives and resources; and the subjugation of economic necessities to political mandates with no basis in material economic reality. It is the last of these, above all, that makes socialism dangerous. As Mises’s colleague F. A. Hayek argued in The Road to Serfdom, central planners frustrated by their inability to mold the economic world to their will inevitably are tempted to run roughshod over the rights and interests of the individuals they purport to serve. Sometimes this takes the relatively innocuous form of high-handed officials in the Canadian public-health service denying a procedure or timely access to care; sometimes it takes one of the diverse forms explored with such horrific vigor by Kim Jong Il. "

Kevin D. Williamson


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Kevin D. Williamson quote : Socialism’s main defects are the inability of political decision-makers to make rational decisions without the information provided by prices generated by marketplace transactions; the misalignment of incentives and resources; and the subjugation of economic necessities to political mandates with no basis in material economic reality. It is the last of these, above all, that makes socialism dangerous. As Mises’s colleague F. A. Hayek argued in The Road to Serfdom, central planners frustrated by their inability to mold the economic world to their will inevitably are tempted to run roughshod over the rights and interests of the individuals they purport to serve. Sometimes this takes the relatively innocuous form of high-handed officials in the Canadian public-health service denying a procedure or timely access to care; sometimes it takes one of the diverse forms explored with such horrific vigor by Kim Jong Il.