I got into a friendly argument with a friendly stranger the other day about the place liberalism and the market should have in society. I realize that many within my generation are generally more receptive to cultural liberalism and economic progressivism. However, there are still plenty who espouse moderate social views and economic libertarianism on my right. Christopher Breen Dugan, you will find is one of them. I find it interesting that many of them have a mistaken view of liberalism; that its objectives are to break down the free market and create a centralized authority that would have more power to plan an economy. Nothing could be further from the truth. Liberalism, as defined after the Great Depression, has always been consistent. It is, in a way, institutionalism, or having faith in the current societal structure to promote economic advancement for all. This in no way means that we want to destroy the free market, instead we believe that certain industries within the free market should be moderately regulated in order to ensure future prosperity. Additionally, liberalism would argue that government should step in when it is financially efficient to have outright control of an industry, say national security or public education. Liberalism is often confused with radicalism, a notion that has more in common today with the right than the left, which is the desire to drastically scale down the various societal organs and start from scratch. Lefty radicals would desire the remade society to be centralized, while the right decentralized.
This nuance in argument is the primary reason that liberalism finds it hard to create those fine tuned sound bites which can attract attention and stir the public into action. A libertarian bumper sticker could say, "Free Market: Arbiter of Justice", the liberal bumper sticker would have to retort with, "Free Market: Arbiter of justice, only if there existed a perfect market for goods and services." How the hell can that fit on a 4x12 magnet? Or even, "LEGALIZE IT!", would have to turn into, "Legalize it, but regulate it because there exists some negative externalities". Think of the car accidents caused by reading that. That reminds me, we should probably mandate that bumper stickers have a large enough font in the name of road safety.
I don't have a mistaken view of liberalism. Unfortunately the modern term has been so bastardized that it is almost meaningless at this stage.
ReplyDeleteClassic liberalism applies equally to social and economic issues. The "freedom" that one gains through social liberalism is the same "freedom" that one gains through economic liberalism with free markets; the freedom from government interference and infringement. As a classical liberal, I subscribe to the entire freedom package rather than arbitrarily picking and choosing which freedoms the state should protect and which it should infringe for some perceived public benefit. I believe in market capitalism with rational market regulations not managed capitalism that has lead to corporatism (but that's a whole different argument we can get into).
By managing and "regulating" a free market you are thereby no longer making it free. The market isn't necessarily destroyed, but by involving government you provide legitimacy for excessive abuses of power. Regulation was originally intended to make markets more regular by eliminating barriers and intervention imposed by state and national governments. This idea has been twisted on its head to provide authority to now grant special treatment to political friends in certain industries, bail out industries at the expense citizens (thereby socializing losses), destroy industries through restrictions and mandates, or nationalize industries by ignoring contract law.
The government does have a role in promoting an environment for economic advancement for all. You suggest it should be actively engaged in the advancement process itself whereas I leave it up to individuals to determine their success and failure. Freedom includes the freedom to fail just as much as it includes the freedom to help those in need.