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© The Strategic Culture Foundation Friedrich von Hayek, Adam Smith, Lion of Britain In Book 8 of The Republic, Plato s protagonist Socrates observes astutely that the ruin of oligarchy is the ruin of democracy. The same disease magnified and intensified by liberty overmasters democracy- the truth being that the excessive increase of anything often causes a reaction in the opposite direction and this is the case not only in the seasons and in vegetable and animal life, but above all in forms of government . Plato continues saying: the excess of liberty, whether in states or individuals, seems only to pass into excess of slavery and so tyranny naturally arises out of democracy, and the most aggravated form of tyranny and slavery out of the most extreme form of liberty.

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