Economics Dictionary of ArgumentsHome
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| Liberalism: Liberalism in political philosophy is a set of beliefs that emphasize individual liberty, equality, and the rule of law. Liberals believe that individuals should be free to live their lives as they see fit. See also Libertarianism, Communitarianim, Individualism, Freedom, Society, Democracy._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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James M. Buchanan on Liberalism - Dictionary of Arguments
Boudreaux I 57 Liberalism/Buchanan/Boudreaux/Holcombe: Buchanan described an ideal of classical liberalism that “is built on the central, and simple, notion that ‘we can all be free’… A motivating element is, of course, the individual’s desire for liberty from the coercive power of others - an element that may be almost universally shared.” Liberty is an end in itself. This desire for freedom complements the operation of the market mechanism as a way for individuals to cooperate to achieve their individual goals. >Individuals/Buchanan. Market/Buchanan: Buchanan saw the market mechanism as a spontaneous order in which individuals cooperate for the mutual gain of all who engage in voluntary exchanges. Those exchanges further the welfare of the individuals who participate in them; the evidence being that they voluntarily choose to exchange. Thus, Buchanan says, “For the scientist in the academy, understanding such principles does, or should, translate into reasoned advocacy of classical liberal policy stances” (Buchanan, 2000(1): 114). Armed with an understanding of economics, Buchanan saw a scientific basis for promoting a classical-liberal social order. By allowing individuals the liberty to make their own choices, and by enabling them to cooperate with others to achieve their goals, individuals are best able to improve their own welfare while not infringing on the liberty of others to do likewise. The social sciences, which study how people interact with each other, treat liberty as an instrumental value - that is, as a means to a higher end. About this treatment of liberty Buchanan wrote: Boudreaux I 58 „Classical liberals themselves have added confusion rather than clarity to the discussion when they have advanced the claim that the idealized and extended market order produces a larger “bundle” of valued goods than any socialist alternative. To invoke the efficiency norm in so crude a fashion as this, even conceptually, is to give away the whole game.“ (Buchanan, 2000(1): 116) Buchanan understood the strong temptation to make this efficiency argument. Boudreaux: It is, after all, correct. But to make this argument shifts the terms of the debate to that of socialists and other critics of the market order. Yes, a market order is indeed more productive. Yet for Buchanan the ultimate and sufficient justification for a market order is that it is essential to protect individual liberty. Ultimately, individuals want to make their own choices. They do not want others to tell them what to do. Fortunately, a market order allows them to make their own choices. In addition, a market is more productive than is a system in which some persons force their decisions on others. But this efficiency advantage should not distract the classical liberal from advocating liberty as a fundamental value. 1. Buchanan, James M. (2000). “The Soul of Classical Liberalism,” Independent Review (Summer)._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconBuchan I James M. Buchanan Politics as Public Choice Carmel, IN 2000 Boudreaux I Donald J. Boudreaux Randall G. Holcombe The Essential James Buchanan Vancouver: The Fraser Institute 2021 Boudreaux II Donald J. Boudreaux The Essential Hayek Vancouver: Fraser Institute 2014 |
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