[Hayek] asks why it is that personal liberty is in continual jeopardy and why the trend is toward its being increasingly restricted. The cause of liberty, he finds, rests on our awareness that our knowledge is inevitably limited. The purpose of liberty is to afford us an opportunity to obtain something unforeseeable; since it cannot be known what individuals will make of their freedom, it is all the more important to grant freedom to everybody....Liberty can endure only if it is defended not just when it is recognized to be useful in particular instances but rather continuously as a fundamental principle which may not be breached for the sake of any definite advantages obtainable at the cost of its suspension....It is not easy to convince the masses that they should sacrifice foreseeable benefits for unforeseeable ones. [From "Hayek's Contribution to Economics," in Essays on Hayek (1976), p. 41.]That goes a long way toward explaining why unchecked democracy has become the enemy of liberty.
Tuesday, March 29, 2005
Fritz Machlup wrote this summary of a 1961 article (in German) by Friedrich Hayek: