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Economic Security in the Road to Serfdom
Economic Security in the Road to Serfdom
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Hasani
posted on Sun, Jan 29 2012 3:36 PM
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In the road to Serfdom Hayek identifies two types of Economic Security....the first he terms as Limited Security where individuals are protected against "physical privation and a given minimum sustenance for all".....the second he describes as the "security of a minimum income and the security of the particular income a person is thought to deserve" ...what he later describes as the provision of the certainty of a given income Could someone please explain why the second type of security described by Hayek is incompatible with a liberal market economy. Thank You
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