“What then is it that, since 2007, has caused Wall Street capitalism's own suicide? At the bottom of this worst financial mess in a century is this: Milton Friedman-Friedrich Hayek libertarian laissez-faire capitalism, permitted to run wild without regulation. This is the root source of today's travails. Both of these men are dead, but their poisoned legacies live on.”

—  Paul A. Samuelson

Farewell to Friedman-Hayek Libertarian Capitalism (2008)
New millennium

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Paul A. Samuelson47
American economist 1915–2009

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“Laissez-faire capitalism, or anarchocapitalism, is simply the economic form of the libertarian ethic. Laissez-faire capitalism encompasses the notion that men should exchange goods and services, without regulation, solely on the basis of value for value. It recognizes charity and communal enterprises as voluntary versions of this same ethic. Such a system would be straight barter, except for the widely felt need for a division of labor in which men, voluntarily, accept value tokens such as cash and credit. Economically, this system is anarchy, and proudly so.”

Karl Hess (1923–1994) American journalist

"The Death of Politics", essay in Playboy (March 1969) http://fare.tunes.org/books/Hess/dop.html; also available in Hess's autobiography, Mostly on the Edge.

“My views are more akin to the nineteenth-century liberal philosophy espoused by Milton Friedman, especially in his Capitalism and Freedom.”

Robert Barro (1944) American classical macroeconomist

In that work, he proposed many policies that are harmonious with free markets and are receiving serious attention in the United States and other countries. This list includes school choice, the flat-rate income tax, rules for monetary stability, privatized social security, and the elimination of affirmative-action programs.
Getting It Right (1997); Introduction

Norman Thomas photo

“[B]oth the communists and fascists revolutions definitely abolished laissez-faire capitalism in favor of one or another kind and degree of state capitalism.”

Norman Thomas (1884–1968) American Presbyterian minister and socialist

A Socialist’s Faith, W. W. Norton, 1951, p. 55.

Benjamin Ricketson Tucker photo

“Laissez Faire was very good sauce for the goose, labor, but was very poor sauce for the gander, capital.”

Benjamin Ricketson Tucker (1854–1939) American journalist and anarchist

¶ 19
State Socialism and Anarchism: How Far They Agree, and Wherin They Differ (1888)

“Friedrich Hayek was the greatest political philosopher of liberty during the twentieth century.”

Alan O. Ebenstein (1959) American political scientist, educator and author

Hayek's Journey: The Mind of Friedrich Hayek (2003)
Context: Hayek died in Freiburg, Germany, on March 23, 1992, less than two months shy of his ninety-third birthday. After 1985, he was unable to work and lost contact with almost all friends and associates. In his last years, almost the only people with whom he had regular contact were his wife, Helene; secretary Charlotte Cubitt, whom he always called “Mrs. Cubitt”; children Larry and Christine Hayek; and Bartley. Hayek was grateful to Cubitt for her assistance from 1977 to 1992. He inscribed in her copy of The Fatal Conceit in 1990: “In gratitude for all her help over so many years F. A. Hayek.”
During his last years, he had periods of more and less lucidity, as well as being ill and depressed. Lord Harris of the Institute of Economic Affairs wrote in his obituary of Hayek that “by 1989 the great man had lost touch with affairs.” He was buried in Vienna, the place of his birth.
[... ] Friedrich Hayek was the greatest political philosopher of liberty during the twentieth century.

David Graeber photo

“If the existence of bullshit jobs seems to defy the logic of capitalism, one possible reason for their proliferation might be that the existing system isn’t capitalism—or at least, isn’t any sort of capitalism that would be recognizable from the works of Adam Smith, Karl Marx, or, for that matter, Ludwig von Mises or Milton Friedman.”

David Graeber book Bullshit Jobs

Bullshit Jobs: A Theory (2018)

“Big business in America today and for some years has been openly at war with competition and, thus, at war with laissez-faire capitalism. … The left's attack on corporate capitalism is, when examined, an attack on economic forms possible only in collusion between authoritarian government and bureaucratized, nonentrepreneurial business. It is unfortunate that many New Leftists are so uncritical as to accept this premise as indicating that all forms of capitalism are bad…”

Karl Hess (1923–1994) American journalist

"The Death of Politics", Playboy magazine (March 1969)

Ayn Rand photo

“When I say “capitalism,” I mean a full, pure, uncontrolled, unregulated laissez-faire capitalism—with a separation of state and economics, in the same way and for the same reasons as the separation of state and church.”

Ayn Rand book The Virtue of Selfishness

The Virtue of Selfishness (1964)

Ayn Rand photo

“Objectivism is a philosophical movement; since politics is a branch of philosophy, Objectivism advocates certain political principles — specifically, those of laissez-faire capitalism — as the consequence and the ultimate practical application of its fundamental philosophical principles. It does not regard politics as a separate or primary goal, that is: as a goal that can be achieved without a wider ideological context…. Objectivists are not "conservatives." We are radicals for capitalism; we are fighting for that philosophical base which capitalism did not have and without which it was doomed to perish.”

Ayn Rand (1905–1982) Russian-American novelist and philosopher

“Choose Your Issues,” The Objectivist Newsletter, Vol. 1, No. 1 (1962)

Edward Heath photo

“Monetarism is dead and the alien doctrines of Friedman and Hayek remain only to be buried.”

Edward Heath (1916–2005) Prime Minister of the United Kingdom (1970–1974)

Speech in the House of Commons (15 March 1982) http://hansard.millbanksystems.com/commons/1982/mar/15/budget-resolutions-and-economic-situation <br class="br">Post-Prime Ministerial

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