Richard M. Ebeling, an AIER Senior Fellow, is the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel, in Charleston, South Carolina. Ebeling lived on AIER's campus from 2008 to 2009.
Richard M. Ebeling
Articles from Richard M. Ebeling
Classical liberals and libertarians consider that their defense and insistence upon a principled practice of individual liberty and competitive free markets is no less of a moral necessity and calling than earlier demands for ending infringements on personal and social freedom that were widely taken for granted.
Academic works such as Quinn Slobodian’s Globalists demonstrate that the anti-capitalists and anti-liberals are determined to make their case through factual fabrications and scandalous misinterpretations of what classical liberals such as Ludwig von Mises and Friedrich A. Hayek really said and advocated.
Bad economics can bring about or grow out of bad politics. But the question is, what are bad economics and bad politics? Unless this is clearly and correctly identified, a bad situation can be made worse, and a good situation can be turned into a bad one. So sorting this out is crucial to having a free and prosperous society.
If the classical liberals of that earlier time could defeat the prevailing beliefs and vested interests supporting human slavery, after its existence for all of human history, some of us believe the same can be done against the existing system of collectivism, interventionism, and welfare statism in both their authoritarian and democratic forms.
Eighty years after a remarkable colloquium in 1938, one that tried to assess the crisis of liberalism and what to do about it, the proceedings have finally been published. The results are tremendously revealing. The Walter Lippman Colloquium was indeed a seminal event that set the stage for the postwar liberal revival.
Fifty years ago, in 1968, Austrian (and Austrian school) economist Friedrich A. Hayek published a monograph called The Confusion of Language in Political Thought. Hayek argued that the words we use and the meanings we give to them greatly influence how we think about the political system and the wider social order in which we live. This is no less so, I would suggest, in the language and the meanings of words used in economics.