"He who states that markets cannot fail, that market failure is always the result of government intervention, is a dogmatist. How the hell would he know? Overall, Hayek was not a dogmatist, although in his writings there can be found traces of such a liberal utopianism. There we encounter the motto: "What is not supposed to be, must not be! And what must not be, is not!" To me, all isms are suspicious anyway. The sceptic in me asks: why should markets be more reasonable than other human institutions? And we can see it every day: markets are also imperfect, prone to error, and in need of repair, like everything else that man has created."
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Philosophers from AustriaAcademics from the United KingdomAcademics from AustriaFriedrich HayekEconomists from the United Kingdom
Original Language: English
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John N. Gray, in John Gray and René Scheu, "The role of the sceptic" (2013)
https://en.wikiquote.org/wiki/Friedrich_Hayek
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Friedrich Hayek
Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian, later British, economist and philosopher best known for his defense of [[w:classical liberalism|classical
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