Libertarian Hedges

A headline over a Washington Post editorial reads:

Hands Off Hedge Funds

Sometimes libertarians deserve to win an argument.

Gee, thanks. I’m glad libertarian arguments against over-regulation made sense to the editorial writer in this case. But I’m disappointed in the suggestion that this is a rare occasion.

Indeed, I’ll bet the editorial writer agrees with most of the basic ideas that libertarians advocate: private property, markets, the rule of law, limited constitutional government, religious toleration, equality under the law, a society based on merit and contract not status, free speech, free trade, individual rights, peace.

In the West we live in a liberal world, and in the United States we call liberalism “libertarianism.” (When Americans say “liberalism,” they mean the welfare state.) The Post’s disagreements with libertarianism are really less rare than the headline suggests; they involve how often and how much national policy should deviate from the basic principles we already agree on.

Cross-posted from Comment is free.