I consider myself a social liberal and a economic conservative. I believe in freedom of expression and democracy. I also believe in balanced budgets, low debts, and a relatively free market system (with monitoring to stop cheating and manipulation). As Edmund Fawcett points out in his excellent book on Liberalism: The Life of an Idea the path to a free and open society that stresses economic equality and equal rights tends to be a bumpy one.
Among the dozens of politicians, philosophers, and economists Fawcett deals with in his story of Liberalism, I was captivated by his approach to Milton Friedman. Friedman is considered to be one of the great economists of the 20th Century (along side John Maynard Keynes). Both Liberals and Conservatives claim Friedman for their side when in reality, Friedman is hard to categorize. Friedman “argued that political freedom required economic freedom. Markets were blind to people’s non-monetary differences. Markets encouraged mutual forbearance and acceptance. The more markets spread within a society the less room there was for intolerance, oppression, and harmful political factionalism” (p. 373).
“Governments, Friedman thought, should limit themselves to enforcing contracts, promoting competition, protecting ‘the irresponsible whether madman or child,’ and ensuring stable money.” Governments got into trouble if they overreached.
I enjoyed Fawcett’s treatments of Keynes, Hayek, Schumpeter, Adam Smith, Marshall, and other notable economists. If you’re looking for a book about where Liberalism when right and where it went wrong, Edmund Fawcett’s book does this brilliantly. Are you a Liberal? GRADE: A
Table of Contents
Preface to the Paperback Edition xi
Preface xvii
Acknowledgments xxiii
Introduction It’s About More Than Liberty 1
PART ONE The Confidence of Youth (1830-1880) 27
1 Historical Setting in the 1830s: Thrown into a World of Ceaseless Change 28
2 Guiding Thoughts from Founding Thinkers: Conflict, Resistance, Progress, and Respect 34
i. Humboldt and Constant: Releasing People’s Capacities and Respecting Their Privacy 34
ii. Guizot: Taming Conflict without Arbitrary Power 44
iii. Tocqueville and Schulze-Delitzsch: The Modern Powers of Mass Democracy and Mass Markets 57
iv. Chadwick and Cobden: Governments and Markets as Engines of Social Progress 65
v. Smiles and Channing: Personal Progress as Self-Reliance or Moral Uplift 74
vi. Spencer: Liberalism Mistaken for Biology 79
vii. J. S. Mill: Holding Liberalism’s Ideas Together 85
3 Liberalism in Practice: Four Exemplary Politicians 98
i. Lincoln: The Many Uses of “Liberty” in the Land of Liberty 98
ii. Laboulaye and Richter: Tests for Liberals in Semiliberal Regimes 106
iii. Gladstone: Liberalism’s Capaciousness and the Politicsof Balance 112
4 The Nineteenth-Century Legacy: Liberalism without Caricature 117
i. Respect, “the Individual,” and the Lessons of Toleration 117
ii. The Achievements That Gave Liberals Confidence 133
PART TWO Liberalism in Maturity and the Struggle with Democracy (1880-1945) 137
5 Historical Setting in the 1880s: The World Liberals Were Making 138
6 The Compromises That Gave Us Liberal Democracy 146
i. Political Democracy: Liberal Resistance to Suffrage Extension 146
ii. Economic Democracy: The “New Liberalism” and Novel Tasks for the State 159
iii. Ethical Democracy: Letting Go Ethically and the Persistence of Intolerance 167
7 The Economic Powers of the Modern State and Modern Market 173
i. Walras, Marshall, and the Business Press: Resisting the State on Behalf of Markets 173
ii. Hobhouse, Naumann, Croly, and Bourgeois: Resisting Markets on Behalf of Society 186
8 Damaged Ideals and Broken Dreams 198
i. Chamberlain and Bassermann: Liberal Imperialism 198
ii. Lloyd George, Clemenceau, and Wilson: Liberal Hawks of 1914-1918 214
iii. Alain, Baldwin, and Brandeis: Liberal Dissent and the Warfare State 227
iv. Stresemann: Liberal Democracy in Peril 237
v. Keynes, Fisher, and Hayek (i): Liberal Economists in the Slump 245
vi. Hoover and Roosevelt: Forgotten Liberal and Foremost Liberal 267
9 Thinking about Liberalism in the 1930s-1940s 275
i. Lippmann and Hayek (ii): Liberals as Antitotalitarians 275
ii. Popper: Liberalism as Openness and Experiment 279
PART THREE Second Chance and Success (1945-1989) 285
10 Historical Setting after 1945: Liberal Democracy’s New Start 286
11 New Foundations: Rights, a Democratic Rule of Law, and Welfare 290
i. Drafters of the 1948 Declaration of Human Rights: Liberal Democracy Goes Global 290
ii. German Postwar Liberals: The 1949 Basic Law as Liberal Democracy’s Exemplary Charter 302
iii. Beveridge: Liberalism and Welfare 312
12 Liberal Thinking after 1945 316
i. Oakeshott and Berlin: Letting Politics Alone and “Negative” Liberty 317
ii. Hayek (iii): Political Antipolitics 327
iii. Orwell, Camus, and Sartre: Liberals in the Cold War 332
iv. Rawls: Justifying Liberalism 338
v. Nozick, Dworkin, and MacIntyre: Responses to Rawls, Rights, and Community 348
13 The Breadth of Liberal Politics in the 1950s-1980s 355
i. Mendès-France, Brandt, and Johnson: Left Liberalism in the 1950s-1960s 355
ii. Buchanan and Friedman: Liberal Economists Against the State 368
iii. Thatcher, Reagan, Mitterrand, and Kohl: Right Liberalism in the 1970s-1980s 378
PART FOUR After 1989 391
Coda Liberal Dreams in the Twenty-First Century 392
Works Consulted 409
Name Index 433
Subject Index 444