April 29, 2009
Quote of the Day: Louis Brandeis on Vigilance and Liberty

The epigram to chapter 17 of Hayek's The Constitution of Liberty comes from Justice Brandeis:

"Experience should teach us to be most on our guard to protect liberty when teh Government's purposes are beneficent. men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well meaning but without understanding."

Posted by Art Carden at 09:35 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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