Sunday, January 30, 2005

Economic freedom

John Blundell, Director General of the IEA, discusses the latest Index of Economic Freedom in The Business and finishes with this strong claim:

So, I submit, capitalism - the consequence of freedom of contract and freedom to trade - is a triumphant force that ennobles its participants. I am making no new claim. Adam Smith taught us all we needed to know in his magisterial the Wealth of Nations. What this fascinating book allows us to see is just how subtle yet simple is the recipe for happiness. Domestic mercantilism is more dangerous than international terrorism.

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