Not Losing Sight of the Classical Liberal Ideal

In the midst of the Second World War, the famous Austrian-born economist Joseph A. Schumpeter (1883-1950), published his famous book, Capitalism, Socialism, and Democracy (1942). He asked the question, “Can Capitalism Survive?” He answered, “No.” He expected some form of socialism, dictatorial or “democratic,” to supersede the private market economy in postwar America. He was proven wrong. Postwar American capitalism may have been increasingly regulated and interfered with by the government, but it was not replaced by socialist central planning.

Not Losing Sight of the Classical Liberal Ideal Webp.net-resizeimage-7-300x167

Not Losing Sight of the Classical Liberal Ideal Webp.net-resizeimage-7-300x167

Today, the media and a variety of more serious public policy publications are awash in articles and essays insisting that the postwar “neoliberal” era has finally and inescapably come to an end, with a far more “progressive” and socialist system the way of the future. Planetary problems and domestic income inequalities and other social injustices require and demand nothing less than the more direct and guiding hand of government over social and economic affairs for the betterment of humankind, it is argued. “Liberalism” and relatively competitive markets have had their day, its critics insist. (See my articles, “All Socialisms are Antisocial,” and “Why Neo-liberalism is Really Neo-socialism,” and “How the Word Liberalism Came to Mean Its Opposite.”)
Most of these criticisms and challenges have come from “progressives,” the new “democratic” socialists, and a growing number in the Democratic Party, as well as in the academic community. But criticisms and rejection of domestic and international liberalism have also come from conservatives, who have called for a “new nationalism,” that would require a more “activist” state to serve national interests and identity, and to which the citizen of the nation-state must conform and offer allegiance. (See my articles, “Conservative Nationalism is Not About Liberty” and “Hazony’s Tradition-Based Society is a Form of Social Engineering.”)

More: https://blog.heartland.org/2020/01/not-losing-sight-of-the-classical-liberal-ideal/

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Not Losing Sight of the Classical Liberal Ideal

Not Losing Sight of the Classical Liberal Ideal

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