Word: hayek
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Dates: during 1980-1989
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...acknowledge that Washington must act more vigorously in some areas, but Reagan to the end fought that reality. In one of his several farewell talks, he compared advocacy of government activism to "a false determinism ((that will)) take us a mile or two more down what Friedrich Hayek called 'The Road to Serfdom...
...Hayek, an economist Reagan admires, preached that the free market conquers all. During the first term, such nostrums were handy tools for trimming some obsolete domestic programs and reducing marginal tax rates. But when Reagan reached those goals, he lacked intellectual material for a second act worthy of the first. Here another of his weaknesses came into play with devastating effect. Throughout his career his detached management style made him depend heavily on his senior advisers. After his 1984 electoral triumph, his fatigued White House staff needed relief. Instead of reorganizing it himself, Reagan allowed his then chief of staff...
...told, the decades immediately after World War II were something of a golden age for socialism. As countries extended their sway over business, Economists Joseph Schumpeter and Friedrich von Hayek darkly warned of an irreversible global turning away from capitalism. Schumpeter argued, "Socialism of a very sober type would almost automatically come into being." Hayek predicted that the rejection of free enterprise would create dictatorships everywhere...
...Patty Hayek Richards New York City...