Lawrence W. Reed Talk

Well, the second lecture of the Liberty, Freedom, and Political Economy lecture series was quite interesting. Reed’s discussion of libertarian ideas and their interaction with public policy was well done. I especially found his argument on the 4 ways to spend money in terms of the transaction between earner, spender, and beneficiary quite compelling. In rank order of efficiency:

  • spend your own money on yourself
  • spend your own money on someone else
  • spending someone else’s money on yourself
  • spending someone else’s money on someone else

    The last being the way government spends money really brings home the inherent problems of redistributive politics. I also thought his story about the folks he met suffering under the Iron Curtain before the Cold War ended (particularly those folks who were part of the Solidarity movement in Poland) put in stark relief the real issues of liberty and exactly how fragile and special it really is. All in all, a very good talk.

    And for those of you curious from the Q & A, here is the I, Pencil speech by Leonard Read.

    Here you can read more about the Foundation for Economic Education.

    D.GOOCH

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    Date: Wednesday, 1. December 2010 22:02
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