Democracy and socialism have nothing in common but one word: equality.

"Nobody saw more clearly than Tocqueville that democracy as an essentially individualist institution stood in an irreconcilable conflict with socialism: 'Democracy extends the sphere of freedom,' he said in 1848; 'socialism restricts it. Democracy attaches all possible value to each man; socialism makes each man a mere agent, a mere number. Democracy and socialism have nothing in common but one word: equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude" (Hayek and Tocqueville quoted in Hayek, Road to Serfdom, 77).