69-579: Francis John Haverfield , FBA (8 November 1860 at Shipston-on-Stour – 1 October 1919) was an English ancient historian , archaeologist , and academic. From 1907 to 1919 he held the Camden Professorship of Ancient History at the University of Oxford . Educated at Winchester College and New College, University of Oxford . At Oxford he gained a First in Classical Moderations in 1880 and
138-521: A Second in Literae Humaniores ('Greats', a combination of philosophy and ancient history) in 1883. He worked for a time under Theodor Mommsen . He won the Conington Prize at Oxford in 1891 and in the following year was appointed a Student [Fellow] of Christ Church, Oxford. In 1907 he moved to Brasenose College to become Camden Professor of Ancient History . Haverfield was the first to undertake
207-613: A biography of Wittgenstein and worked on collecting family materials and later assisted biographers of Wittgenstein. He was related to Wittgenstein on the non-Jewish side of the Wittgenstein family . Since his youth, Hayek frequently socialized with Jewish intellectuals, and he mentions that people often speculated whether he was also of Jewish ancestry. That made him curious, so he spent some time researching his ancestors and found out that he had no Jewish ancestors within five generations. Hayek displayed an intellectual and academic bent from
276-526: A divorce he had taken steps to obtain one unilaterally. For a time after his divorce, Hayek rarely visited his children, but kept up more regular contact with them in his older years after moving to Europe. Hayek's son, Laurence Hayek (1934–2004) was a distinguished microbiologist. His daughter Christine was an entomologist at the British Museum of Natural History , and she cared for him during his last years, when he had declining health. Hayek had
345-421: A few weeks later, after moving to Arkansas to take advantage of permissive divorce laws. His wife and children were offered settlement and compensation for accepting a divorce. The divorce caused some scandal at LSE, where certain academics refused to have anything to do with Hayek. In a 1978 interview to explain his actions, Hayek stated that he was unhappy in his first marriage and as his wife would not grant him
414-537: A few years younger than him, but he believed that they were somehow of a different generation. He preferred to associate with adults. In 1917, Hayek joined an artillery regiment in the Austro-Hungarian Army and fought on the Italian front . Hayek suffered damage to his hearing in his left ear during the war and was decorated for bravery. Hayek then decided to pursue an academic career, determined to help avoid
483-449: A large part of his life to the study of the history and the principles of liberalism point out that a party that keeps a socialist government in power has lost all title to the name 'Liberal'. Certainly no liberal can in future vote 'Liberal ' ". Hayek was criticised by Liberal politicians Gladwyn Jebb and Andrew Phillips , who both claimed that the purpose of the pact was to discourage socialist legislation. Lord Gladwyn pointed out that
552-524: A lifelong interest in biology and was also concerned with ecology and environmental protection . After being awarded his Nobel Prize, he offered his name to be used for endorsements by World Wildlife Fund , National Audubon Society , and the National Trust , a British conservationist organisation. Evolutionary biology was simply one of his interests in natural sciences. Hayek also had an interest in epistemology, which he often applied to his own thinking, as
621-576: A long-standing relationship. With the help of Mises, in the late 1920s, he founded and served as director of the Austrian Institute for Business Cycle Research before joining the faculty of the London School of Economics (LSE) in 1931 at the behest of Lionel Robbins . Upon his arrival in London, Hayek was quickly recognised as one of the leading economic theorists in the world and his development of
690-425: A loss of freedom , the creation of an oppressive society, the tyranny of a dictator , and the serfdom of the individual. Hayek challenged the view, popular among British Marxists, that fascism (including Nazism ) was a capitalist reaction against socialism . He argued that fascism, Nazism, and state-socialism had common roots in central economic planning and empowering the state over the individual. The title
759-567: A mistake in moving to Salzburg". The economics department was small, and the library facilities were inadequate. Although Hayek's health suffered, and he fell into a depressionary bout, he continued to work on his magnum opus , Law, Legislation and Liberty in periods when he was feeling better. On 9 October 1974, it was announced that Hayek would be awarded the Nobel Memorial Prize in Economics with Swedish economist Gunnar Myrdal . He
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#1732876481767828-559: A research assistant to Professor Jeremiah Jenks of New York University , compiling macroeconomic data on the American economy and the operations of the Federal Reserve . He was influenced by Wesley Clair Mitchell and started a doctoral program on problems of monetary stabilization but didn't finish it. His time in America wasn't especially happy. He had very limited social contacts, missed
897-647: A scientific study of Roman Britain and is considered by some to be the first theorist to tackle the issue of the Romanization of the Roman Empire. Some consider him the innovator of the discipline of Romano-British archaeology. His works include The Romanization of Roman Britain (1905) (which originated as a lecture to the British Academy and for which he is best known), Ancient Town Planning (1913), and The Roman Occupation of Britain (1924), many monographs, and
966-528: A seminal role in transforming how Milton Friedman and others understood how society works. Hayek conducted a number of influential faculty seminars while at the University of Chicago and a number of academics worked on research projects sympathetic to some of Hayek's own, such as Aaron Director , who was active in the Chicago School in helping to fund and establish what became the "Law and Society" program in
1035-488: A speaker had prepared a paper on why the "middle way" was the pragmatic path the Conservative Party should take, avoiding the extremes of left and right. Before he had finished, Thatcher "reached into her briefcase and took out a book. It was Hayek's The Constitution of Liberty . Interrupting our pragmatist, she held the book up for all of us to see. 'This', she said sternly, 'is what we believe', and banged Hayek down on
1104-418: A teenager he read the genetic and evolutionary works of Hugo de Vries and August Weismann and the philosophical works of Ludwig Feuerbach . He noted Goethe as the greatest early intellectual influence. In school, Hayek was much taken by one instructor's lectures on Aristotle's ethics . In his unpublished autobiographical notes, Hayek recalled a division between him and his younger brothers who were only
1173-522: A university professor influenced Hayek's goals later in life. Both of his grandfathers, who lived long enough for Hayek to know them, were scholars. Franz von Juraschek was a leading economist in Austria-Hungary and a close friend of Eugen von Böhm-Bawerk , one of the founders of the Austrian School of Economics. Hayek's paternal grandfather, Gustav Edler von Hayek , taught natural sciences at
1242-523: A very young age and read fluently and frequently before going to school. However, he did quite poorly at school, due to the lack of interest and problems with teachers. He was at the bottom of his class in most subjects and once received three failing grades, in Latin, Greek, and mathematics. He was very interested in theater, even attempting to write some tragedies, and biology , regularly helping his father with his botanical work. At his father's suggestion, as
1311-526: A visiting professor at the University of Arkansas , Hayek was conferred professorship by the University of Chicago , where he became a professor in the Committee on Social Thought . Hayek's salary was funded not by the university, but by an outside foundation, the William Volker Fund . Hayek had made contact with many at the University of Chicago in the 1940s, with Hayek's The Road to Serfdom playing
1380-458: Is a stub . You can help Misplaced Pages by expanding it . Friedrich Hayek Friedrich August von Hayek CH FBA ( / ˈ h aɪ ə k / HY -ək , German: [ˈfʁiːdʁɪç ˈʔaʊɡʊst fɔn ˈhaɪɛk] ; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek , was an Austrian-born British academic who contributed to political economy , political philosophy and intellectual history . Hayek shared
1449-527: Is an award granted by the British Academy to leading academics for their distinction in the humanities and social sciences. The categories are: The award of fellowship is based on published work and fellows may use the post-nominal letters FBA . Examples of Fellows are Edward Rand ; Mary Beard ; Roy Porter ; Nicholas Stern, Baron Stern of Brentford ; Michael Lobban ; M. R. James ; Friedrich Hayek ; John Maynard Keynes ; Lionel Robbins ; and Rowan Williams . This award -related article
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#17328764817671518-719: The Anschluss brought it under the control of Nazi Germany in 1938, Hayek remained in Britain. Hayek and his children became British subjects in 1938. He held this status for the remainder of his life, but he did not live in Great Britain after 1950. He lived in the United States from 1950 to 1962 and then mostly in Germany, but also briefly in Austria. In 1947, Hayek was elected a Fellow of
1587-686: The German Free Democrats were in coalition with the German Social Democrats . Hayek was defended by Professor Antony Flew , who stated that—unlike the British Labour Party—the German Social Democrats had since the late 1950s abandoned public ownership of the means of production, distribution and exchange and had instead embraced the social market economy . In 1978, Hayek came into conflict with Liberal Party leader David Steel , who argued that liberty
1656-574: The Universities of Salzburg and Freiburg . Hayek had considerable influence on a variety of political and economic movements of the 20th century, and his ideas continue to influence thinkers from a variety of political and economic backgrounds today. Although sometimes described as a conservative , Hayek himself was uncomfortable with this label and preferred to be thought of as a classical liberal or libertarian . His most popular work, The Road to Serfdom , has been republished many times over
1725-509: The gold standard at the old pre-war and pre-inflationary par was the public policy backdrop for Hayek's dissenting engagement with Keynes over British monetary and fiscal policy. Keynes called Hayek's book Prices and Production "one of the most frightful muddles I have ever read", famously adding: "It is an extraordinary example of how, starting with a mistake, a remorseless logician can end in Bedlam". Notable economists who studied with Hayek at
1794-702: The 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how prices communicate information is widely regarded as an important contribution to economics that led to him receiving the prize. He was a major contributor to the Austrian school of economics . During his teenage years, Hayek fought in World War I . He later said this experience, coupled with his desire to help avoid
1863-531: The Econometric Society . Hayek was concerned about the general view in Britain's academia that fascism was a capitalist reaction to socialism and The Road to Serfdom arose from those concerns. In the book, Hayek "[warns] of the danger of tyranny that inevitably results from government control of economic decision-making through central planning ." He further argues that the abandonment of individualism and classical liberalism inevitably leads to
1932-579: The Imperial Realobergymnasium (secondary school) in Vienna. He wrote works in the field of biological systematics, some of which are relatively well known. On his mother's side, Hayek was second cousin to the philosopher Ludwig Wittgenstein . His mother often played with Wittgenstein's sisters and had known him well. As a result of their family relationship, Hayek became one of the first to read Wittgenstein's Tractatus Logico-Philosophicus when
2001-520: The LSE in the 1930s and 1940s include Arthur Lewis , Ronald Coase , William Baumol , CH Douglas , John Kenneth Galbraith , Leonid Hurwicz , Abba Lerner , Nicholas Kaldor , George Shackle , Thomas Balogh , L. K. Jha , Arthur Seldon , Paul Rosenstein-Rodan and Oskar Lange . Some were supportive and some were critical of his ideas. Hayek also taught or tutored many other LSE students, including David Rockefeller . Unwilling to return to Austria after
2070-577: The Promotion of Roman Studies and the British School at Rome . He was on the governing body of Abingdon School from 1907 to 1919 and was a supporter of the school. Among his other substantial contributions to education, Haverfield bequeathed his papers and impressive library to the university, these were subsequently housed at the Ashmolean Museum . In 2001, Haverfield's material was transferred to
2139-625: The Queen was followed by a dinner with family and friends at the Institute of Economic Affairs . When later that evening Hayek was dropped off at the Reform Club , he commented: "I've just had the happiest day of my life". In 1991, President George H. W. Bush awarded Hayek the Presidential Medal of Freedom , one of the two highest civilian awards in the United States, for a "lifetime of looking beyond
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2208-673: The University of Chicago Law School. Hayek, Frank Knight , Friedman and George Stigler worked together in forming the Mont Pèlerin Society , an international forum for neoliberals. Hayek and Friedman cooperated in support of the Intercollegiate Society of Individualists, later renamed the Intercollegiate Studies Institute , an American student organisation devoted to libertarian ideas. Although they shared most political beliefs, disagreeing primarily on
2277-635: The University of Chicago at the time was Leo Strauss , but according to his student Joseph Cropsey who also knew Hayek, there was no contact between the two of them. After editing a book on John Stuart Mill 's letters he planned to publish two books on the liberal order, The Constitution of Liberty and "The Creative Powers of a Free Civilization" (eventually the title for the second chapter of The Constitution of Liberty ). He completed The Constitution of Liberty in May 1959, with publication in February 1960. Hayek
2346-570: The University of Vienna, Carl Menger 's work on the explanatory strategy of social science and Friedrich von Wieser 's commanding presence in the classroom left a lasting influence on him. Upon the completion of his examinations, Hayek was hired by Ludwig von Mises on the recommendation of Wieser as a specialist for the Austrian government working on the legal and economic details of the Treaty of Saint-Germain-en-Laye . Between 1923 and 1924, Hayek worked as
2415-719: The authoritative chapters he contributed to the Victoria History of the Counties of England . He excavated the Roman fort at Hardknott , the site of ancient Mediobogdum in Cumbria. He collected and published known Latin inscriptions in Britain. He gave the Rhind Lectures in 1905 and 1907, on Roman Britain. Haverfield is credited as playing a prominent role in creation of both the Society for
2484-419: The book was published in its original German edition in 1921. Although he met Wittgenstein on only a few occasions, Hayek said that Wittgenstein's philosophy and methods of analysis had a profound influence on his own life and thought. In his later years, Hayek recalled a discussion of philosophy with Wittgenstein when both were officers during World War I. After Wittgenstein's death, Hayek had intended to write
2553-506: The cultural life of Vienna, and was troubled by his poverty. His family's financial situation deteriorated significantly after the War. Initially sympathetic to Wieser's democratic socialism , Hayek found Marxism rigid and unattractive, and his mild socialist phase lasted until he was about 23. Hayek's economic thinking shifted away from socialism and toward the classical liberalism of Carl Menger after reading von Mises' book Socialism . It
2622-685: The economics of processes in time and the co-ordination function of prices inspired the ground-breaking work of John Hicks , Abba P. Lerner and many others in the development of modern microeconomics. In 1932, Hayek suggested that private investment in the public markets was a better road to wealth and economic co-ordination in Britain than government spending programs as argued in an exchange of letters with John Maynard Keynes , co-signed with Lionel Robbins and others in The Times . The nearly decade long deflationary depression in Britain dating from Winston Churchill 's decision in 1925 to return Britain to
2691-629: The eight decades since its original publication. Hayek was appointed a Member of the Order of the Companions of Honour in 1984 for his academic contributions to economics. He was the first recipient of the Hanns Martin Schleyer Prize in 1984. He also received the Presidential Medal of Freedom in 1991 from President George H. W. Bush . In 2011, his article " The Use of Knowledge in Society "
2760-689: The end of the study. By the end of his studies Hayek became more interested in economics, mostly for financial and career reasons; he planned to combine law and economics to start a career in diplomatic service. He earned doctorates in law and political science in 1921 and 1923 respectively. For a short time, when the University of Vienna closed he studied in Constantin von Monakow 's Institute of Brain Anatomy, where Hayek spent much of his time staining brain cells. Hayek's time in Monakow's lab and his deep interest in
2829-544: The horizon". In August 1926, Hayek married Helen Berta Maria von Fritsch (1901–1960), a secretary at the civil service office where he worked. They had two children together. Upon the close of World War II, Hayek restarted a relationship with an old girlfriend, who had married since they first met, but kept it secret until 1948. Hayek and Fritsch divorced in July 1950 and he married his cousin Helene Bitterlich (1900–1996) just
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2898-577: The inability of assimilation of Eastern European Jews in the Vienna of his youth. He defended himself by explaining that he made no racial judgements, only highlighted the problems of acculturation. In 1977, Hayek was critical of the Lib–Lab pact in which the British Liberal Party agreed to keep the British Labour government in office. Writing to The Times , Hayek said: "May one who has devoted
2967-508: The instigation of editor Max Eastman , the American magazine Reader's Digest also published an abridged version in April 1945, enabling The Road to Serfdom to reach a far wider audience than academics. The book is widely popular among those advocating individualism and classical liberalism . In 1950, Hayek left the London School of Economics. After spending the 1949–1950 academic year as
3036-441: The mistakes that had led to the war. Hayek said of his experience: "The decisive influence was really World War I . It's bound to draw your attention to the problems of political organization". At the University of Vienna , Hayek initially studied mostly philosophy, psychology and economics. The university allowed students to choose their subjects freely and there was not much obligatory written work, or tests except main exams at
3105-449: The mistakes that led to the war, drew him into economics. He earned doctoral degrees in law in 1921 and political studies in 1923 from the University of Vienna . He subsequently lived and worked in Austria, Great Britain, the United States and Germany. He became a British national in 1938. He studied and taught at the London School of Economics and later at the University of Chicago , before returning to Europe late in life to teach at
3174-628: The newly-built Sackler Library , and is now found in the Haverfield Archive section to the right hand side of the ground floor library. This archive consists of correspondence, coloured prints, and drawings illustrating mosaic pavements, site plans, publication extracts, although, this reportedly represents only a small fraction of Haverfield's papers. In addition, the archive holds valuable resources from European continental journals such as Romanobarbarica , including historical sources that Haverfield knew of and used in his work. Among his students
3243-540: The only economists to forecast that America was headed for a depression, is that true?" Hayek responded, "Yes." However, no textual evidence has emerged of "a prediction". Indeed, Hayek wrote on 26 October 1929, three days before the crash, "at present there is no reason to expect a sudden crash of the New York stock exchange. ... The credit possibilities/conditions are, at any rate, currently very great, and therefore it appears assured that an outright crisis-like destruction of
3312-554: The present high [price] level should not be feared." During the Nobel ceremony in December 1974, Hayek met the Russian dissident Aleksandr Solzhenitsyn . Hayek later sent him a Russian translation of The Road to Serfdom . He spoke with apprehension at his award speech about the danger the authority of the prize would lend to an economist, but the prize brought much greater public awareness to
3381-451: The question of monetary policy, Hayek and Friedman worked in separate university departments with different research interests and never developed a close working relationship. According to Alan O. Ebenstein , who wrote biographies of both of them, Hayek probably had a closer friendship with Keynes than with Friedman. Hayek received a Guggenheim Fellowship in 1954. Another influential political philosopher and German-speaking exile at
3450-544: The relationship between Catholicism and science, and 'bring to the Pontiff's attention the problems which the Nobel Prize Winners, in their respective fields of study, consider to be the most urgent for contemporary man'" Hayek was appointed a Member of the Order of the Companions of Honour (CH) in the 1984 Birthday Honours by Elizabeth II on the advice of British Prime Minister Margaret Thatcher for his "services to
3519-402: The same name and another on the philosophy of social science. Preliminary drafts of the book were completed by 1970, but Hayek chose to rework his drafts and finally brought the book to publication in three volumes in 1973, 1976 and 1979. Hayek became a professor at the University of Salzburg from 1969 to 1977 and then returned to Freiburg. When Hayek left Salzburg in 1977, he wrote: "I made
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#17328764817673588-526: The second is not: free choice can at least exist under a dictatorship that can limit itself but not under the government of an unlimited democracy which cannot". Hayek supported Britain in the Falklands War , writing that it would be justified to attack Argentinian territory instead of just defending the islands, which earned him a lot of criticism in Argentina, a country which he also visited several times. He
3657-572: The study of economics". Hayek had hoped to receive a baronetcy and after being awarded the CH sent a letter to his friends requesting that he be called the English version of Friedrich (i.e. Frederick) from now on. After his twenty-minute audience with the Queen, he was "absolutely besotted" with her according to his daughter-in-law Esca Hayek. Hayek said a year later that he was "amazed by her. That ease and skill, as if she'd known me all my life". The audience with
3726-414: The surname "Hagek" who came from Prague in the 1500s. His father, born in 1871, also in Vienna, was a medical doctor employed by the municipal ministry of health. August was a part-time botany lecturer at the University of Vienna . Friedrich was the oldest of three brothers, Heinrich (1900–1969) and Erich (1904–1986), who were one-and-a-half and five years younger than he was. His father's career as
3795-630: The table". Despite the media depictions of him as Thatcher's guru and power behind the throne, the communication between him and the Prime Minister was not very regular, they were in contact only once or twice a year. Besides Thatcher, Hayek also had a significant influence on Enoch Powell , Keith Joseph , Nigel Lawson , Geoffrey Howe and John Biffen . Hayek gained some controversy in 1978 by praising Thatcher's anti-immigration policy proposal in an article which ignited numerous accusations of anti-Semitism and racism because of his reflections on
3864-558: The then controversial ideas of Hayek and was described by his biographer as "the great rejuvenating event in his life". In February 1975, Margaret Thatcher was elected leader of the British Conservative Party . The Institute of Economic Affairs arranged a meeting between Hayek and Thatcher in London soon after. During Thatcher's only visit to the Conservative Research Department in the summer of 1975,
3933-478: The two or three people who most influenced his philosophy and welcomed him to the White House as a special guest. Senator Barry Goldwater listed Hayek as his favourite political philosopher and congressman Jack Kemp named him an inspiration for his political career. In 1980, Hayek was one of twelve Nobel laureates to meet with Pope John Paul II "to dialogue, discuss views in their fields, communicate regarding
4002-471: The work of Ernst Mach inspired his first intellectual project, eventually published as The Sensory Order (1952). It located connective learning at the physical and neurological levels, rejecting the "sense data" associationism of the empiricists and logical positivists . Hayek presented his work to the private seminar he had created with Herbert Furth called the Geistkreis . During Hayek's years at
4071-413: Was a professor at the University of Freiburg , West Germany, where he began work on his next book, Law, Legislation and Liberty . Hayek regarded his years at Freiburg as "very fruitful". Following his retirement, Hayek spent a year as a visiting professor of philosophy at the University of California, Los Angeles , where he continued work on Law, Legislation and Liberty , teaching a graduate seminar by
4140-506: Was also displeased by the weak response of the United States to the Iran hostage crisis , claiming that an ultimatum should be issued and Iran bombed if they do not comply. He supported Ronald Reagan's decision to keep high defence spending, believing that a strong US military is a guarantee of world peace and necessary to keep the Soviet Union under control. President Reagan listed Hayek as among
4209-406: Was concerned that "with that condition of men in which coercion of some by others is reduced as much as is possible in society". Hayek was disappointed that the book did not receive the same enthusiastic general reception as The Road to Serfdom had sixteen years before. He left Chicago mostly because of financial reasons, being concerned about his pension provisions. His primary source of income
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#17328764817674278-561: Was his salary, and he received some additional money from book royalties but avoided other lucrative sources of income for academics such as writing textbooks. He spent a lot on his frequent travels. He regularly spent summers in Austrian Alps , usually in the Tyrolean village Obergurgl where he enjoyed mountain climbing, and also visited Japan four times with additional trips to Tahiti , Fiji , Indonesia , Australia, New Caledonia and Ceylon . After his divorce, his financial situation worsened. From 1962 until his retirement in 1968, he
4347-449: Was inspired by the French classical liberal thinker Alexis de Tocqueville 's writings on the "road to servitude". It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it "that unobtainable book" also due in part to wartime paper rationing. When it was published in the United States by the University of Chicago in September of that year, it achieved greater popularity than in Britain. At
4416-450: Was possible only with "social justice and an equitable distribution of wealth and power, which in turn require a degree of active government intervention" and that the Conservative Party were more concerned with the connection between liberty and private enterprise than between liberty and democracy. Hayek argued that a limited democracy might be better than other forms of limited government at protecting liberty, but that an unlimited democracy
4485-437: Was selected as one of the top 20 articles published in the American Economic Review during its first 100 years. Friedrich August von Hayek was born in Vienna to August von Hayek and Felicitas Hayek ( née von Juraschek). Both of his parents had Czech family surnames and Czech ancestry. The surname Hayek is the Germanized spelling of the Czech surname Hájek. Hayek traced his paternal Czech ancestry to an ancestor with
4554-432: Was sometime after reading Socialism that Hayek began attending von Mises' private seminars, joining several of his university friends, including Fritz Machlup , Alfred Schutz , Felix Kaufmann and Gottfried Haberler , who were also participating in Hayek's own more general and private seminar. It was during this time that he also encountered and befriended noted political philosopher Eric Voegelin , with whom he retained
4623-498: Was surprised at being given the award and believed that he was given it with Myrdal to balance the award with someone from the opposite side of the political spectrum. Among the reasons given, the committee stated, Hayek "was one of the few economists who gave warning of the possibility of a major economic crisis before the great crash came in the autumn of 1929." The following year, Hayek further confirmed his original prediction. An interviewer asked, "We understand that you were one of
4692-399: Was the archaeologist and topographer Thomas Ashby (1874–1931), the first scholar and third director of the British School at Rome , the Oxford historian, archaeologist, and philosopher R. G. Collingwood (1889–1943) and the archaeologist and anthropologist John Garstang (1876–1956). Fellow of the British Academy Fellowship of the British Academy ( post-nominal letters FBA )
4761-421: Was worse than other forms of unlimited government because "its government loses the power even to do what it thinks right if any group on which its majority depends thinks otherwise". Hayek stated that if the Conservative leader had said "that free choice is to be exercised more in the market place than in the ballot box, she has merely uttered the truism that the first is indispensable for individual freedom while
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