In Defense of Neo-Liberalism
The nomenclature around economic philosophies can be confusing. On the right, there are variations on the theme of free markets. Adam Smith was the progenitor of classic liberalism which advocated for largely unencumbered markets as the principal means of producing goods and services. Leftists, on the other hand, will debate the difference between communism and socialism, and, drilling down, between old-style socialism and democratic socialism. Karl Marx is our chief progenitor here, advocating for a collectivist means of production run by a collectivist authority. Obviously, this short paragraph does not adequately explain The Wealth of Nations and Das Capital. …