Wednesday, July 14, 2010

The Economics of Libertarianism, Revealed

by Edward L. Glaeser

New York Times
June 15, 2010

It is both the best and worst of times for libertarians. On the plus side, real, live politicians who might conceivably get elected call themselves libertarians. On the negative side, true libertarians have lost their ancient luxury of being able to avoid any responsibility for the gaffes and errors of political leaders.

Libertarianism rests on two bedrock beliefs: human freedom is a great good and the public sector tends to screw things up. The first belief is based more on faith than empirical result; the second derives from millennia of human experience. The increased appeal of libertarianism today reflects a nonpartisan view that the public sector has been deeply problematic under either party. It is a backlash against President Bush as well as President Obama. (Ron Paul was, after all, the only Republican to vote against the 2002 Iraq war resolution). Libertarians tend to think that the Bush years taught that all governments were flawed, not that everything would be better with a new leader who would expand the public sector.

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