On the Lib–Lab pact; letter to The Times (31 March 1977), p. 15
“
May one who has devoted a large part of his life to the study of the history and the principles of liberalism point out that a party that keeps a socialist government in power clearly has lost all title to the name “Liberal”. Certainly no liberal can in future vote “Liberal”.
— Friedrich Hayek
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "May one who has devoted a large part of his life to the study of the history and the principles of liberalism point out that a party that keeps a socialist government in power clearly has lost all title to the name “Liberal”. Certainly no liberal can in future vote “Liberal”." in the context of "On the Lib–Lab pact; letter to The Times (31 March 1977), p. 15" to mean that wisdom is timeless.
Source: Wikiquote: "Friedrich Hayek" (Quotes, 1960s–1970s)
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
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About Friedrich Hayek
Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian, later British, economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and … penetrating analysis of the interdependence of economic, social and institutional phenomena". (Nobel Memorial Prize, 1974)
About Friedrich Hayek
Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian, later British, economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and … penetrating analysis of the interdependence of economic, social and institutional phenomena". (Nobel Memorial Prize, 1974)
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