Arizona Sen. Barry Goldwater, in Los Angeles for a speech to the National Interfraternity Conference, is reported to have said, "Where fraternities are not allowed, communism flourishes." The quote was widely repeated, both at the time ("Fraternities Help Curb Reds, Goldwater Says," reported The New York Times) and ever since.
What Goldwater actually said was "Where fraternities are not allowed, Keynesianism flourishes."
Goldwater was referring specifically to Harvard University, which at the time did not allow traditional Greek fraternities and which he saw as the center of Keynesianism. (Kenyesianism being the economic theory that government intervention was necessary for an economy to fully flourish; Goldwater opposed such managed capitalism and pushed for smaller, less intrusive government.)
He also said in defense of fraternities: "They are probably the greatest bastion we have for our future, the great bastion we have where we can develop leaders to take care of the protection of the Republic and our way of life."
* Summary of Keynesianism: @
* "We Are All Keynesians Now" (Time magazine, December 31, 1965): @
* "They Never Said It: A Book of Fake Quotes, Misquotes & Misleading Attributions": @