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NOTE Commentary

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Commentary by F. A. von Hayek

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Looking through defending the undefendable made me feel that I was once more exposed to

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the shock therapy by which, more than fifty years ago, the late Ludwig von Mises converted

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me to a consistent free market position.

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Even now I am occasionally at first incredulous and feel that this is going too far, but usually

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Many find in the end that you are right.

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Some may find it too strong a medicine, but it will still do them good even if they hate

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it.

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A real understanding of economics demands that one disabuses oneself of many dear prejudices

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and illusions.

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Popular fallacies in economics frequently express themselves in unfounded prejudices

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against other occupations, and in showing the falsity of these stereotypes you are doing

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a Real Service, although you will not make yourself more popular with the majority.

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F. A. von Hayek, Nobel Laureate, Institute for Nationale Economie, Universität Salzburg.