"To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies -- these tasks provide a wide and unquestioned field for state activity."
Friedrich August von Hayek
(1899-1992), Nobel Laureate of Economic Sciences 1974
The Road to Serfdom
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Reader comments about this quote:
Conditions for effective competition exist as a lawful state of nature without state activity. Fraud and deceptions' lawful scope of interaction falls within the jurisdiction of justice (already happened, not preventative). Preventative enforcement, as a political tool is tyranny. Monopolies, as a stand alone topic, neither need breaking up or otherwise. Monopolies, as unlawful exterminators of free enterprise, are to be dealt with individually at law and justice.
 -- Mike, Norwalk     
    Mike, I think that is what Hayek is saying -- that there is plenty for the state to do preventing monopolies, fraud, deception, etc. and promoting competition rather than 'fixing the game.' Of course, the issue on whether the state can be trusted is another thing altogether.
     -- E Archer, NYC     
    Archer thanks, that general thought had crossed my mind. My comment was to the stand alone statement.
     -- Mike, Norwalk     
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