This one is hauled from the archives from Aug 2013. Bhagwati on Democracy and Markets. In that post I quote Bhagwati’s three broad lessons that arise from his typology of countries into a democracy-market space.
Markets
Fast Food Enlightenment
Markets work. That’s the “First Law” of the Extended Order of Social Interactions. I just made up that EOoSI bit but the ‘markets work’ bit is a genuine law in the sense that it expresses an observed regularity in human… Read More ›
Man versus the State
English philosopher, biologist, anthropologist, sociologist, and prominent classical liberal political theorist of the Victorian era, Herbert Spencer (1820-1903) wrote this in “The Man versus the State” (1884).