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Friedrich Hayek

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The most intelligent defender of capitalism today … who has as fine and as powerful a mind as is to be found anywhere.
--
Irving Kristol, in "When Virtue Loses All Her Loveliness" — Some Reflections on Capitalism and "The Free Society" in The Public Interest (1970), and Capitalism Today (1971)

 
Friedrich Hayek

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Hayek has as fine and as powerful a mind as is to be found anywhere, and [his] "Constitution of Liberty" is one of the most thoughtful works of the last decades.

 
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The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods. In short we dislike it, and we are beginning to despise it. But when we wonder what to put in its place, we are extremely perplexed.

 
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Everyday I become more convinced, there is no doubt in my mind, as many intellectuals have said, that it is necessary to transcend capitalism. But capitalism can not be transcended through capitalism itself; it must be done through socialism, true socialism, with equality and justice. I’m also convinced that it is possible to do it under democracy, but not in the type of democracy being imposed by Washington.

 
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