Codger on Politics

Thursday, March 06, 2014

Where liberals get it wrong

Where liberals get it wrong

http://www.nationalreview.com/article/372344/bait-and-switch-liberalism-william-voegeli/page/0/1

"Classical liberalism (think John Locke, not John Rawls) offered a different way to reconcile individual interest and political duty. Self-interest, rightly understood and pursued, was the public interest. "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest," Adam Smith wrote in The Wealth of Nations. We can reduce and ultimately eliminate the discord within and between nations by inducing people to focus on commerce and industry, which can make everyone who plays that positive-sum game better off. "He that encloses land, and has a greater plenty of the conveniences of life from ten acres than he could have from a hundred left to nature," according to Locke's Second Treatise, "may truly be said to give ninety acres to mankind." "

This is a great explanation, better than the hidden hand.  Individuals seeking there own interest, create wealth.

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