Economic freedom is necessarily linked to political freedom. Competition turns self-interest toward efficiency, fosters voluntary social cooperation through mutually beneficial exchanges, and thereby maximizes social welfare. Thus, self-interest can, and frequently does, contribute to economic abundance, political liberty, and a free pluralistic culture. This, precisely, is Adam Smith’s “invisible hand” in action.
Posted on: Mon, 19 Jan 2015 21:24:38 +0000
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