“A reconsideration of the discussion in which I took an active part more than 40 years ago has left me with a rather depressing view of the somewhat shameful state of what has become an established part of economic science, the subject of ‘economic systems’. It appears to me that in this subject political attractiveness has been preserved by the flimsiest of arguments. The kindest thing one can say is that some well-meaning people have allowed themselves to be deceived by the vague and thoughtless language commonly used by specialists in the theory of these issues.”

1980s and later, "Two Pages of Fiction" (1982)

Adopted from Wikiquote. Last update June 3, 2021. History

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Friedrich Hayek79

Austrian and British economist and Nobel Prize for Economic… 1899–1992

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