Donald J. Boudreaux: Progressives Don't Really Get Progress, But the American People Do
[Donald J. Boudreaux, a professor of economics at George Mason University, is the author of “Globalization.”]
President Obama and other progressives attribute the Democrats’ electoral shellacking last week to their failure to communicate with ordinary Americans. The implication is that most Americans are too slow to appreciate the noble and courageous government programs that progressives enacted for the public good. Another implication is that progressives are unusually smart and visionary....
Trouble is, progressives’ understanding of the source of progress is regressive. It reflects an outmoded belief that society advances only if it is consciously designed by well-meaning and smart intellectuals and steered by a beneficent and powerful government....
No one more famously exposed the wrong-headedness of this belief than did Adam Smith way back in 1776. Leave individuals free to pursue their own goals as they each see fit, said Smith in effect, and the result will be an orderly, prosperous, and growing – a progressing! – economy that no one did or could design.
Since Smith, generations of economists have refined our understanding that a decentralized, free-market economy is far smarter than is even the best set of ideas concocted by the world’s most brilliant intellectuals....
Read entire article at CS Monitor
President Obama and other progressives attribute the Democrats’ electoral shellacking last week to their failure to communicate with ordinary Americans. The implication is that most Americans are too slow to appreciate the noble and courageous government programs that progressives enacted for the public good. Another implication is that progressives are unusually smart and visionary....
Trouble is, progressives’ understanding of the source of progress is regressive. It reflects an outmoded belief that society advances only if it is consciously designed by well-meaning and smart intellectuals and steered by a beneficent and powerful government....
No one more famously exposed the wrong-headedness of this belief than did Adam Smith way back in 1776. Leave individuals free to pursue their own goals as they each see fit, said Smith in effect, and the result will be an orderly, prosperous, and growing – a progressing! – economy that no one did or could design.
Since Smith, generations of economists have refined our understanding that a decentralized, free-market economy is far smarter than is even the best set of ideas concocted by the world’s most brilliant intellectuals....