The Fatal Conceit: The Errors of Socialism (The Collected Works of F. A. Hayek Book 1)

by Friedrich A. Hayek

socialists in their appropriation of the term ‘liberalism’. As Joseph A. Schumpeter rightly put it (1954:394): ‘As a supreme if unintended compliment, the enemies of the system of private enterprise have thought it wise to appropriate its label.’