In honor of Thomas Paine and other Founders & Immigrants. In memory of my daddy Horst Bingel and my mom Irma Bingel
Friday, July 15, 2022
Wednesday, January 26, 2022
The Chinese Philosopher Who Explained Spontaneous Order 2,000 Years Before Adam Smith
Zhuangzi was not the founder of the [robust libertarian intellectual tradition in Ancient China], however. The tradition ... started with Lao-Tzu (500 BC), a philosopher credited as the father of Taoism who rejected the alleged authoritarianism of Confucianism in favor of individual rights. ...
Saturday, April 24, 2021
Hayek's Legacy of the Spontaneous Order
The political implications of spontaneous order theory are strikingly evident with the recent fall of the Soviet Union. In fact, Hayek's 1944 book, The Road to Serfdom, foreshadowed what we see and read about daily. No political system could assume, as fascism did on the right and communism did on the left, that men were cogs to be "fit" into the state machine. Tyranny results from government's attempts to plan the workings of daily life.
Second, reliance on institutions that were created through government fiat need to be questioned and reevaluated. Hayek, for example, grew increasingly disenchanted with a central bank as the sole authority for a nation's money supply and called for competitive currencies that would eliminate monopoly control. A competitive currency would allow for all types of previously untried services for producers and consumers alike in a more uncertain environment. Monetary institutions would then evolve naturally rather than being artificially created by government.
Saturday, March 13, 2021
Adam Smith: The man of the system
Here is one of many famous excerpts of Adam Smith's two classic works An Inquiry into the Nature and Causes of the Wealth of Nations (1776) and The Theory of Moral Sentiments (1759):
"The man of system [e.g. elected lifelong career politicians], on the contrary, is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he cannot suffer the smallest deviation from any part of it. He goes on to establish it completely and in all its parts, without any regard either to the great interests, or to the strong prejudices which may oppose it. He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chessboard."
Adam Smith contrasted the man of the system with spontaneous order and self interest/love!
Here is another take on this famous quote: Adam Smith on social change and “the man of system” (1759)