|Peter Boettke|
Deirdre McCloskey has a new paper circulating which works through a theme she has been stressing a lot lately. As a social philosophy that begins with the recognition that we are one another’s dignified equals, liberalism demands that we treat each other as adults, not as children. Yes, we are fallible creatures, but also capable and responsible individuals. In her latest working paper she reminded me of this great quote from Adam Smith.
Read Smith in the context of Biden’s Build Back Better and the Great Reset; or Elizabeth Warren and the indictment of corporate greed and the attack on wealth; or the traditionalist conservatives who would like to be in power who denigrate consumer preferences and the liberal market order. Who do these people think they are? And then remember their blatant hypocrisy in terms of their own wealth and private behavior let alone their use of public funds.
Wealth creation is a good thing for society, economic freedom is wealth creating. The energy comes from individuals striving to better their and their families situation. As Smith says these public officials can look in mirror first and check their own behavior and “they may safely trust private people with theirs.”
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