Tag: selfishness

Is Libertarianism Selfishness?

That’s what Michael Gerson, former speechwriter for President George W. Bush, writes in the Washington Post. I take a different view in my new column at the Encyclopedia Britannica Blog:

Libertarians want to live in what Adam Smith called the Great Society, the complex and productive society made possible by social interaction. We agree with George Soros that “cooperation is as much a part of the system as competition.” In fact, we consider cooperation so essential to human flourishing that we don’t just want to talk about it; we want to create social institutions that make it possible. That is what property rights, limited government, and the rule of law are all about….

The American, and libertarian, belief in freedom is not a “mania,” nor is it “selfishness.” It’s a philosophy of individual rights, the rule of law, and the institutions necessary for social cooperation. Read Locke, Hume, Smith, TocquevilleHayek—and yes, Rand—if you seriously believe that the philosophy of freedom can be summed up as “selfishness.”

Much more at the Britannica.

President Obama’s Poor Understanding of Voluntary Exchange

As explained in an excellent letter to the editor of The Washington Post:

Capitalism’s friends never had to cede moral ground to its enemies, but they will have to replace the current power structure to make room for a revival. President Obama summarized his understanding of free enterprise in his 2009 commencement speech at Arizona State University: “ruthless competition pursued only on your own behalf…”

That markets are built on voluntary transactions – mutual exchange for mutual benefit – is an alien concept in the academic environment that produced Mr. Obama and many of his staffers. That one accumulates wealth in a free market by providing value to willing buyers – the exact opposite of acting “only on your own behalf” – is another idea unlikely to penetrate the zero-sum mentality that dominates this administration.

The author is one Michael Smith of Cynthiana, Kentucky, a gifted and prolific letter-to-the-editor-writer.