This article is by Deirdre McCloskey. She will be coming to the Conference of Economists and the History of Economic Thought Society meetings at the start of July. Not to be missed. She is a great economist as well as being a great economic historian and historian of economics. Here she is discussing how the capitalist order is the only moral order. Governments, after they have made their contribution in providing political stability have a very restricted role in dealing with markets. Here she is in the midst of an argument with others who don’t see it the way she does:
How do I know that my narrative is better than yours? The experiments of the 20th century told me so. It would have been hard to know the wisdom of Friedrich Hayek or Milton Friedman or Matt Ridley or Deirdre McCloskey in August of 1914, before the experiments in large government were well begun. But anyone who after the 20th century still thinks that thoroughgoing socialism, nationalism, imperialism, mobilization, central planning, regulation, zoning, price controls, tax policy, labor unions, business cartels, government spending, intrusive policing, adventurism in foreign policy, faith in entangling religion and politics, or most of the other thoroughgoing 19th-century proposals for governmental action are still neat, harmless ideas for improving our lives is not paying attention.
Both the Conference of Economists and HETSA are in Melbourne this year.