I hope you read 'The Road to Serfdom'

Hayek clearly details how egalitarian politicians will eventually bankrupt society in their attempt to achieve Utopia (term derived from Greek for a place which can not exist). This bankrupting of society will result in an apathetic & disengaged population, leaving only the most radical elements on both the right and left remaining in politics. From here the end result is a totally centralized economy and eventual fascistic or communist rule.