Friday, September 2, 2011

F.A.Hayek on Guaranteed Income

From @livable4all:
F.A.Hayek on guaranteed #basicincome “[The first kind of security is] security against severe physical privation, the certainty of a given minimum of sustenance for all;”

“There is no reason why, in a society which has reached the general level of wealth which ours has attained the first kind of security [minimum sustenance for all] should not be guaranteed to all without endangering general freedom.”

“...but there can be no doubt that some minimum of food, shelter, and clothing, sufficient to preserve health and capacity to work, can be assured to everybody.”

“Nor is there any reason why the state should not assist the individuals in providing for those common hazards of life against which, because of their uncertainty, few individuals can make adequate provision.”

pg.120 Friedrich A. Hayek, The Road to Serfdom; Published 1944, 1976 paperback edition by University of Chicago Press.