Jeffrey Friedman (political scientist): Economics

Jeffrey Friedman (political scientist) is American political scientist. Explore interesting quotes on economics.
Jeffrey Friedman (political scientist): 12   quotes 1   like

“…A government as large as the modern megastate cannot conceivably be controlled by a well-informed public, since it is literally impossible to be knowledgeable about even a fraction of the many complex matters modern governments are called upon to govern. … The attraction of free markets … is that they have self-correcting features that place far smaller demands on anyone’s knowledge than democracy does. Each person concerns herself with her own life and the system, supposedly, runs itself. Interpreted in this way, the literature on public ignorance could form the basis of the consequentialist argument the postwar free-market economists sought, but never found … against all government economic intervention: for even if it cannot be shown, on economic grounds, that every intervention hurts more than it helps, it might be shown, on political grounds, that by opening the door to helpful interventions, we begin sliding toward the unhelpful ones on a slope slippery with public ignorance.”

Jeffrey Friedman (political scientist)

Source: “What’s wrong with Libertarianism”, p. 455

Life , Way , Democracy , Literature

“Both Rand and Rothbard, overeager to seal the case for expelling the state from the economy that economic arguments alone apparently could not clinch, had to cast themselves as participants in a Manichean struggle against unscrupulous wrongdoers with impure motives. This already betokened a deep complacency about the validity of their own views, such that anyone who disagreed with them must be a deliberate enemy of truth; and it marked the beginning of the anti-intellectualism that continues to disfigure libertarian thought. The virtually unanimous opposition of scholars and intellectuals to a view as self-evidently true as libertarianism seems to be to Rand and Rothbard must, they thought, be a function of the intellectuals’ perversity”

Jeffrey Friedman (political scientist)

rather than of weaknesses of libertarian argument and evidence
Source: “What’s wrong with Libertarianism”, p. 452

Truth , Motivation

“Empirical research does not, as of yet, seem to have legitimately gotten anyone 100 percent of the way to libertarianism; there remain, at the very least, some public goods and, in principle, the need for economic redistribution. Libertarian philosophy fills the gap between what free-market economists can prove about the undesirable consequences of government intervention and the absolute prohibition of all intervention. Consequentialist and nonconsequentialist arguments for libertarianism may be antithetical in principle, but they are symbiotic in practice.”

Jeffrey Friedman (political scientist)

Source: “What’s wrong with Libertarianism”, p. 444

Way