Friday, December 26, 2008

Clichés about free market capitalism

First of all, I would like to welcome you to this blog, which is going to be the English version of "Le Busard Enragé". As I currently live in the UK and would like to share my views with a broader audience, it is needless to say that using the English language is a good way to achieve my goal.

The second reason that motivated me to do this blog is that I have a lot of English speaking acquaintances who have clichés about what is free-market capitalism and libertarianism - also called classical liberalism or simply liberalism in some European Countries -, especially during this financial turmoil. Indeed, free-market capitalism has become the scapegoat of all the problems in the world and is depicted as the evil to eradicate.

Some people use the term savage capitalism to talk about classical liberalism in order to emphasis on its alleged lack of morality. Unfortunately for them, this is a little bit too simplistic to be true. Libertarianism is rooted into the principles of Natural Law that has been studied from Aristotle to Saint Thomas Aquinas and the Scholatics. Murray Rothbard, an eminent intellectual of the libertarian Austrian School of Economics, acknowledged this heritage on his books: the Ethics of Liberty.

I am not going to go through all the prejudges that people usually have about classical liberalism but my aim in my next posts will be to bring you a more realistic view of what this philosophy is about.