Friday, 22 January 2010

Liberalism v's liberalism

George Will on (American) liberalism:
The essence of contemporary liberalism is the illiberal conviction that Americans, in their comprehensive incompetence, need minute supervision by government, which liberals believe exists to spare citizens the torture of thinking and choosing.
Joseph Schumpeter on (Classical) liberalism:
Still more important, they did so in a spirit of laissez-faire, that is to say, on the theory that the best way to promote economic development and general welfare is to remove fetters from the private-enterprise economy and to leave it alone. This is what will be meant in this book by Economic Liberalism. The reader is requested to keep this definition in mind because the term has acquired a different– in fact almost the opposite– meaning since about 1900 and especially since 1930: as a supreme, if unintended, compliment, the enemies of the system of private enterprise have thought it wise to appropriate its label. (emphasis added) [ Joseph Alois Schumpeter, History of economic analysis, p.372]
(HT: Cafe Hayek)


ZenTiger said...

The problem isn't restricted to just America too.

buy nintendo dsi r4 said...

An "aggiornamento" of liberalism is imperative. It is time to thoroughly revise liberal doctrine and bring it up to date in light of the latest advances in economic science, and the experience the latest historical events have provided. However, today economic science has already shown:

1. that the state is unnecessary;
2. that statism is theoretically impossible; and
3. that, given human nature, once the state exists, it is impossible to limit its power.