Quote of the Day

Defenders of markets usually speak in the language of economics, while defenders of socialism speak in the language of morality. The problem is that most defenders of markets–from Adam Smith to F. A. Hayek to Milton Friedman to my own mentor David Schmidtz–concede the moral high ground to socialism. They admit that the market is a good system for bad people, while socialism is a good system for good people. Even if economics tells us that socialism is a bad system for bad people, the fundamental problem is that people are bad.

Time for a different approach. Time to take the moral high ground. In Why Not CapitalismI grant socialists every moral premise and every methodological assumption about human nature and justice. But I then show that this vindicates capitalism, not socialism. If I could wave a magic wand that make us all good enough to make socialism work out the way socialists want it to, we’d still find capitalism better. From a left-wing point of view, socialism is great, but capitalism is even better.

Jason Brennan. This sounds like a fascinating and worthy project, and I hope to have the chance to read the book soon.