Political Theory

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Peter G. Klein

Hayek argues that exceptionally intelligent people who favor the market tend to find opportunities for professional and financial success outside the Academy (i.e., in the business or professional world). Those who are highly intelligent but ill-disposed toward the market are more likely to choose an academic career. For this reason, the universities come to be filled with those intellectuals who were favorably disposed toward socialism from the beginning.

Ludwig von Mises

The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters. In spreading discontent and social unrest, inflation generates favorable conditions for the subversive propaganda of the self-styled champions of welfare and progress. There cannot be any doubt that officialdom will be eager to sabotage a reform whose main purpose is to curb the power of the bureaucracy in monetary matters.