Friday, March 22, 2013

The Egalitarian Tradition of Economics

Good article from Dr. Cowen of GMU. I agree with it.

Since I began pursuing my PhD in economics I have found it harder and harder to support any kind of restrictions on individual freedom. Any economist who is serious about the benefits of free markets will find it difficult to not also see the benefits of allowing more freedom in the social side of human life as well.

This includes the freedom to be in any relationship you deem to be in your best interest, the freedom to live where you want to live, to have a say in your government, to pursue whatever occupation you choose at whatever wage you find agreeable, the freedom to partake in any substance as long as you refrain from harming others, the freedom to engage in trade/commerce with whoever can satisfy your wants, etc.

As Dr. Cowen points out, economists have a long history of supporting equality. I have often said that the world would be a better place if everyone thought like an economist, and Dr. Cowen has pointed out that this is likely true in more ways than one.