… is from page xvi of Samuel Gregg’s forthcoming book, The Civilization of Commerce:
The act of situating the case for markets within a wider argument about civilization reminds us, moreover, that much more is involved in the defense of market economies than emphasizing their ability to create wealth. Distinctly nonmaterial goods like liberty and justice are equally at stake.
DBx: Sam is correct.
…..
I’ve lost count of the number of times I’ve witnessed the following: The case for free markets is made on consequentialist grounds – for example, markets supply greater material prosperity to ordinary people, including better health, longer lives, and access to more leisure – only to be met with the objection that market-oriented economists are blind to the nonmaterial dimensions of human flourishing. The market-oriented economist then declares that he or she does indeed value nonmaterial goods – above all, liberty – so highly that he or she would, if necessary, willingly sacrifice much material wealth in exchange for greater liberty. This declaration is then met with the objection that the market-oriented economist isn’t to be trusted because he or she is an ideologue.
