Challenging, Bargaining, and Royalty: An Analysis of Libertarian Argumentation By Daniel Klein,...

Challenging, Bargaining, and Challenging, Bargaining, and Royalty:Royalty:

An Analysis of Libertarian ArgumentationAn Analysis of Libertarian Argumentation

By Daniel Klein, Economics, George Mason By Daniel Klein, Economics, George Mason University, and the Ratio InstituteUniversity, and the Ratio Institute

2

The Hayekian NarrativeThe Hayekian Narrative

Hunter-gatherer. Society as organization. Hunter-gatherer. Society as organization. Centrally planned, hierarchical. Shared Centrally planned, hierarchical. Shared experience and sentiment. experience and sentiment. Still in our Still in our genes.genes.

Settled hierarchy, organized societySettled hierarchy, organized society Commercial revolution, extended orderCommercial revolution, extended order

Philosophy of liberty and spontaneous orderPhilosophy of liberty and spontaneous order Collectivist reaction, armed with Collectivist reaction, armed with

democracy and stolen vocabularydemocracy and stolen vocabulary Social-democratic hegemony, protracted Social-democratic hegemony, protracted

cultural strugglecultural struggle

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Ideological Lock-inIdeological Lock-in

It is very rare that one’s It is very rare that one’s ideological sensibilities ideological sensibilities change significantly after the change significantly after the age of 30.age of 30.

To influence ideological To influence ideological sensibilities, you must reach sensibilities, you must reach the young.the young.

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Ludwig von Mises:Ludwig von Mises:

““It is impossible to It is impossible to understand the history of understand the history of economic thought if one economic thought if one does not pay attention to does not pay attention to the fact that economics as the fact that economics as such is a challenge to the such is a challenge to the conceit of those in power.”conceit of those in power.”

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Belief W

Belief V

Position R

Position Q

Belief X

Position S

Belief Y Belief Z

Position T Position P Position L

Positions More Libertarian More Statist

•

Bargainer begins by challenging Belief Z. Challenger begins by challenging Belief W.

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2 Classical-Liberal Character Types2 Classical-Liberal Character Types

Classical liberals favor points within Classical liberals favor points within the left ”20 yd line”the left ”20 yd line”

Challengers and Bargainers: Challengers and Bargainers: Both Both privately favor positions left > right, at privately favor positions left > right, at least to the 20 yd lineleast to the 20 yd line

The difference highlighted here is not The difference highlighted here is not a difference in privately held policy a difference in privately held policy viewsviews

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ChallengersChallengers

They say to the listener: Speaker B is They say to the listener: Speaker B is misguided because he is statist.misguided because he is statist.

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Bargainers:Bargainers:

They say to the listener and to They say to the listener and to Speaker B: Speaker B is misguided, Speaker B: Speaker B is misguided, and hence more interventionist than and hence more interventionist than he should be.he should be.

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Intended effectsIntended effects Intended effects on:

Speaker B

Listener

Challenger

Mortification, incapacitation.

Mortification, incapacitation.

Conversion. Edification.

Bargainer Moderation, persuasion.

Moderation, persuasion. Intimation

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Turn, turn, turnTurn, turn, turn

To every thingTo every thingturn, turn, turnturn, turn, turn

There is a seasonThere is a seasonturn, turn, turnturn, turn, turn -- -- The ByrdsThe Byrds

How much one should turn depends How much one should turn depends on his abilities and the on his abilities and the segmentation of his discourse segmentation of his discourse situationssituations

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My take on challengers and My take on challengers and bargainers started with:bargainers started with:

Shelby Steele, Shelby Steele, The Content of Our The Content of Our Character: A New Vision of Race in Character: A New Vision of Race in America America (1991)(1991)

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Not to Oversell ItNot to Oversell It

Some not categorized:Some not categorized: David Hume, JB Say, Richard Cobden, David Hume, JB Say, Richard Cobden,

Herbert Spencer, William Graham Herbert Spencer, William Graham Sumner, Albert Jay Nock, HL Mencken, Sumner, Albert Jay Nock, HL Mencken, Charles Murray, Johan Norberg, David Charles Murray, Johan Norberg, David FriedmanFriedman

To know how to categorize, it is not To know how to categorize, it is not sufficient to read their works.sufficient to read their works.

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Challenger GalleryChallenger Gallery

Thomas Paine – Thomas Paine – American American revolutionaryrevolutionary

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FrFrééddééric Bastiat – ric Bastiat – French libertarian French libertarian economist. economist. However, as B. However, as B. Baugus points Baugus points out, he also out, he also sometimes sometimes bargained. bargained.

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William Lloyd William Lloyd Garrison Garrison – American – American abolitionist.abolitionist.““Upon being reproached Upon being reproached for the habitual severity for the habitual severity and heat of his and heat of his language, Garrison language, Garrison retorted, ‘retorted, ‘I have need I have need to be all on fire, for I to be all on fire, for I have mountains of ice have mountains of ice about me to melt.about me to melt.’”’”

(Rothbard (Rothbard Egal.Egal. p245)p245)

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Ludwig von Mises Ludwig von Mises – Austrian political – Austrian political economisteconomist

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Ayn Rand – Ayn Rand – Russian-American Russian-American novelist and pop novelist and pop philosopherphilosopher

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Thomas Szasz – Thomas Szasz –

““The Myth of The Myth of Mental Illness”Mental Illness”

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Murray Rothbard Murray Rothbard – Amer. – Amer. libertarian libertarian polymath polymath

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Robert Higgs –Robert Higgs –Economist, Economist, editor editor The The Independent Independent ReviewReview

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Walter Williams – Walter Williams – American American economist and economist and columnistcolumnist

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BastiatBastiat Highlights that the essence of government action is Highlights that the essence of government action is

coercion.coercion. When private citizens do what the state does, we When private citizens do what the state does, we

call it crime:call it crime: ““There are people who think that plunder loses all its There are people who think that plunder loses all its

immorality as soon as it becomes legal.” (p.29)immorality as soon as it becomes legal.” (p.29) ““The state is the great fictitious entity by which everyone The state is the great fictitious entity by which everyone

seeks to live at the expense of everyone else.” (p. 144)seeks to live at the expense of everyone else.” (p. 144) Makes plain that he is for the fundamental reform: Makes plain that he is for the fundamental reform:

““I confess that I am I confess that I am one of thoseone of those who think that the who think that the choice, the impulse, should come from below, not from choice, the impulse, should come from below, not from above, from the citizens, not from the legislator . . .” (p.12)above, from the citizens, not from the legislator . . .” (p.12)

Makes categorical moral arguments against Makes categorical moral arguments against coercion: coercion: ““and the contrary doctrine seems to me to lead to the and the contrary doctrine seems to me to lead to the

annihilation of liberty and human dignity.” (p. 12)annihilation of liberty and human dignity.” (p. 12)

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Scorns statism:Scorns statism: ““I do not know to what barbaric century we I do not know to what barbaric century we

should have to return to find on this point a should have to return to find on this point a level of understanding comparable to that of the level of understanding comparable to that of the socialists.”socialists.”

Suggests that human instinct and public Suggests that human instinct and public opinion are systematically biased toward opinion are systematically biased toward statism: The whole argument about the statism: The whole argument about the seen and the unseen.seen and the unseen.

Protests the general political culture of his Protests the general political culture of his society: society: ““Good Lord! What a lot of trouble to prove in Good Lord! What a lot of trouble to prove in

political economy that two and two make four; political economy that two and two make four; and if you succeed in doing so, people cry, “It’s and if you succeed in doing so, people cry, “It’s so clear that it is boring. Then they vote as if so clear that it is boring. Then they vote as if you had never proved anything at all.” (p.11)you had never proved anything at all.” (p.11)

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Argues that statism is sustained by a Argues that statism is sustained by a number of superstitions and taboos:number of superstitions and taboos: ““Need it be said that we may have been, in this Need it be said that we may have been, in this

respect, duped by one of the most bizarre respect, duped by one of the most bizarre illusions that has ever taken possession of the illusions that has ever taken possession of the human mind?” (p142-43)human mind?” (p142-43)

The inconsistent belief system: “consists in The inconsistent belief system: “consists in requiring everything from the state without requiring everything from the state without giving anything to it . . . is chimerical, absurd, giving anything to it . . . is chimerical, absurd, childish, contradictory, and dangerous. Those childish, contradictory, and dangerous. Those who advance it in order to give themselves the who advance it in order to give themselves the pleasure of accusing all governments of pleasure of accusing all governments of impotence and exposing them thus to your impotence and exposing them thus to your violent attacks, flatter and deceive you, or at violent attacks, flatter and deceive you, or at least they deceive themselves.” (p. 151)least they deceive themselves.” (p. 151)

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MISESMISES Mises never had secure professional standing, Mises never had secure professional standing,

and as the little he had disappeared, he became and as the little he had disappeared, he became more and more challenger-ish.more and more challenger-ish.

Highlights that the essence of government action Highlights that the essence of government action is coercion.is coercion.

When private citizens do what the state does, we When private citizens do what the state does, we call it crime:call it crime: ““It is important to remember that government interference It is important to remember that government interference

always means either violent action or the threat of such action. always means either violent action or the threat of such action. Government is in the last resort the employment of armed Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and men, of policemen, gendarmes, soldiers, prison guards, and hangmen. The essential feature of government is the hangmen. The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.” (p. asking ultimately for more compulsion and less freedom.” (p. 715)715)

However, Mises does condemn “natural law” in the sense of “a However, Mises does condemn “natural law” in the sense of “a perennial standard of what is just and what is unjust” (p. 716, perennial standard of what is just and what is unjust” (p. 716, see also 717)see also 717)

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Makes plain that he is for the fundamental reform: Makes plain that he is for the fundamental reform: Indicates that he favors laissez faire (p. 725)Indicates that he favors laissez faire (p. 725)

Makes categorical moral arguments against coercion Makes categorical moral arguments against coercion (even though he would deny it): (even though he would deny it): ““Laissez faire means: Let the common man choose and act; Laissez faire means: Let the common man choose and act;

do not force him to yield to a dictator.” (p. 12)do not force him to yield to a dictator.” (p. 12) Scorns statism:Scorns statism:

““the Santa Claus conception of government” (p. 846)the Santa Claus conception of government” (p. 846) Protests the general political culture of his society: Protests the general political culture of his society:

““our age of passionate longing for government our age of passionate longing for government omnipotence” (p. 725)omnipotence” (p. 725)

Argues that statism is sustained by a number of Argues that statism is sustained by a number of biases:biases: ““All this passionate praise of the supereminence of All this passionate praise of the supereminence of

government action is but a poor disguise for the individual government action is but a poor disguise for the individual interventionist’s interventionist’s self-deificationself-deification. The great god State is a . The great god State is a great god only because it is expected to do exclusively what great god only because it is expected to do exclusively what the individual advocate of interventionism wants to see the individual advocate of interventionism wants to see achieved.” (p. 727)achieved.” (p. 727)

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Offer the young reader esteem for his Offer the young reader esteem for his wisdom and couragewisdom and courage

This gives life to a mutual-admiration This gives life to a mutual-admiration society gathered around the society gathered around the challengerchallenger

Inspire bold and independent thinkingInspire bold and independent thinking Found movementsFound movements Teach adherents what they are and Teach adherents what they are and

how they stand aparthow they stand apart

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The challenger tends to be self-The challenger tends to be self-centered.centered.

He tends to have a high estimation of He tends to have a high estimation of his own importance and destiny.his own importance and destiny.

Importance not only in what he has Importance not only in what he has to say, but in his believing it, to say, but in his believing it, because of his super acute wisdom because of his super acute wisdom or judgment.or judgment.

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BargainersBargainers

Suppose Joe is a classical liberal and Suppose Joe is a classical liberal and in a discourse situation is bargaining, in a discourse situation is bargaining, arguing for Belief Y over Belief Z.arguing for Belief Y over Belief Z.

On higher level issues, Joe might:On higher level issues, Joe might: falsify his beliefsfalsify his beliefs acknowledge his true beliefsacknowledge his true beliefs remain mute or ambiguousremain mute or ambiguous

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Bargainer GalleryBargainer Gallery

Friedrich HayekFriedrich Hayek – – Economist and Economist and philosopherphilosopher

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Aaron Aaron Wildavsky – Wildavsky – Amer. political Amer. political scientistscientist

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Richard Epstein – Richard Epstein – Amer. legal Amer. legal scholarscholar

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Tyler Cowen – Tyler Cowen – American American economisteconomist

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Virginia Postrel – Virginia Postrel – American author, American author, journalist, editorjournalist, editor

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John Tierney – John Tierney –

NY Times NY Times columnistcolumnist

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HAYEKHAYEK

““Use of Knowledge” article:Use of Knowledge” article: Disguises the voluntary/coercive distinction:Disguises the voluntary/coercive distinction:

Use “decentralization” and “competition” rather than Use “decentralization” and “competition” rather than “freedom” or “liberty”: p. 521, 523, 524“freedom” or “liberty”: p. 521, 523, 524

Never says he favors fundamental reform.Never says he favors fundamental reform. Claims that the disagreement is a matter of Claims that the disagreement is a matter of

intellectual error, rather than fundamental intellectual error, rather than fundamental commitments. Hence, persuasion of mature commitments. Hence, persuasion of mature minds remains possible:minds remains possible: ““[T]he differences can indeed no longer be ascribed to [T]he differences can indeed no longer be ascribed to

political prejudice. The remaining dissent seems clearly political prejudice. The remaining dissent seems clearly to be due to purely intellectual, and more particularly to be due to purely intellectual, and more particularly methodological, differences.” (p. 112)methodological, differences.” (p. 112)

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In In CoLCoL, he provides multiple vague , he provides multiple vague definitions of liberty. Never makes clear definitions of liberty. Never makes clear that ordinary regulations like minimum that ordinary regulations like minimum wage are coercion. Hedges and fudges on wage are coercion. Hedges and fudges on fundamental policy issues. Avoids them, or fundamental policy issues. Avoids them, or treads gingerly.treads gingerly.

Eschews the word “libertarian”, using Eschews the word “libertarian”, using “liberal” instead.“liberal” instead.

Later, following 1960, with waning status, Later, following 1960, with waning status, Hayek becomes more challenger-ish. E.g., Hayek becomes more challenger-ish. E.g., “The Atavism of Social Justice”, “The Atavism of Social Justice”, The Mirage The Mirage of Social Justiceof Social Justice. Starts using the word . Starts using the word “libertarian” somewhat.“libertarian” somewhat.

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BargainersBargainers

Inspire adherents to be persuasive Inspire adherents to be persuasive and effective in meeting and joining and effective in meeting and joining and cooperating with power, to stand and cooperating with power, to stand with otherswith others as colleagues in power as colleagues in power but as something somewhat different but as something somewhat different from them. from them.

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Turn, turn, turnTurn, turn, turn

If discourse situations were perfectly If discourse situations were perfectly segmented, it would behoove the segmented, it would behoove the classical liberal to argue as best suits classical liberal to argue as best suits his abilities and the situation.his abilities and the situation.

Example: I bargain more in teaching Example: I bargain more in teaching than in writing. I argue for vouchers, than in writing. I argue for vouchers, granting that education should be granting that education should be subsidized for public good/equity subsidized for public good/equity reasons.reasons.

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ProminenceProminence

A key factor of segmentation is prominence.A key factor of segmentation is prominence. The prominent are more visible in all that The prominent are more visible in all that

they do. They more need to project a single they do. They more need to project a single persona.persona.

The less prominent can more effectively The less prominent can more effectively play it both ways.play it both ways.

I think people ”turn” too little, perhaps I think people ”turn” too little, perhaps because they have an inflated notion of their because they have an inflated notion of their own prominence and need for consistency. own prominence and need for consistency.

We often try to emulate our heroes, but our We often try to emulate our heroes, but our heroes were more prominent than we.heroes were more prominent than we.

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Declining segmentation?Declining segmentation?

The Internet etc may be making it The Internet etc may be making it harder to do this.harder to do this.

Even lectures might find their way Even lectures might find their way onto the Internet. Exposonto the Internet. Exposéé..

But vanity may lead us to over-But vanity may lead us to over-estimate this constraint. estimate this constraint.

A little inconsistency is no shame.A little inconsistency is no shame.

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Connection to Esoteric WritingConnection to Esoteric Writing We have assumed the bargainer’s We have assumed the bargainer’s

criticism of Belief Z basically resembles criticism of Belief Z basically resembles that of one who sincerely believes Y.that of one who sincerely believes Y.

The Strauss dimension: Apparent The Strauss dimension: Apparent bargaining as esoteric challenging.bargaining as esoteric challenging.

Here the bargainer’s criticism of Z Here the bargainer’s criticism of Z contains contains between the lines between the lines criticism of X criticism of X and possibly W.and possibly W.

For example, Hayek’s explicit definition of For example, Hayek’s explicit definition of liberty was really mainly a listing of liberty was really mainly a listing of correlates of liberty, while the true correlates of liberty, while the true definition of liberty was definition of liberty was between the linesbetween the lines..

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RoyaltyRoyalty

Enjoys establishment Enjoys establishment eminenceeminence

Two aspects:Two aspects:1. Eminent among one’s close 1. Eminent among one’s close

circle of peerscircle of peers

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RoyaltyRoyalty

2. 2. That circle is recognized throughout That circle is recognized throughout society as eminentsociety as eminent

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Royalty enjoys a sense of ascendancyRoyalty enjoys a sense of ascendancy Royalty acts as though its ideas are or can Royalty acts as though its ideas are or can

become official establishment doctrinebecome official establishment doctrine Royalty Royalty evadesevades the distinction between the distinction between

the mature/powerful (speaker B) and the the mature/powerful (speaker B) and the young/disempowered (the listener). young/disempowered (the listener). Royalty acts like all can be persuaded Royalty acts like all can be persuaded alike.alike.

Royalty downplays any radical implications Royalty downplays any radical implications of what it might be saying.of what it might be saying.

Often conceals or blurs their libertarian Often conceals or blurs their libertarian position on touchy issues.position on touchy issues.

Resorts to inconsistency, vagueness, Resorts to inconsistency, vagueness, platitude, elision.platitude, elision.

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Royalty GalleryRoyalty Gallery

Adam SmithAdam Smith

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Royalty GalleryRoyalty Gallery

Milton FriedmanMilton Friedman

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SMITHSMITH Enjoyed establishment eminence and ascendancyEnjoyed establishment eminence and ascendancy Explains that the world around us is a Explains that the world around us is a

manifestation of his principles. His principles manifestation of his principles. His principles already reign. (Div of labor, spon order, etc.)already reign. (Div of labor, spon order, etc.)

Smith assures the reader that he does not follow Smith assures the reader that he does not follow the simple libertarian principle 100% (p. 289).the simple libertarian principle 100% (p. 289).

Smith endorses several contraventions of natural Smith endorses several contraventions of natural liberty. One interpretation of this is that he liberty. One interpretation of this is that he actually believed in those contraventions. actually believed in those contraventions. Another is that he is allaying concerns of his strict Another is that he is allaying concerns of his strict adherence to simple radical principles.adherence to simple radical principles.

In TMS, he praises gentle, pragmatic reform and In TMS, he praises gentle, pragmatic reform and compromise (p. 380)compromise (p. 380)

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Smith plays it both ways on natural liberty Smith plays it both ways on natural liberty and justice: Sometimes the two coincide, and justice: Sometimes the two coincide, but sometimes he favors contraventions but sometimes he favors contraventions nonetheless. In the case of restriction on nonetheless. In the case of restriction on being a shopkeeper (which he opposes) he being a shopkeeper (which he opposes) he says is a violation, hence unjust, and then says is a violation, hence unjust, and then adds that it was also “impolitic” (both adds that it was also “impolitic” (both Stewart and Millar use Stewart and Millar use expediencyexpediency). So he ). So he adds another layer within which he can adds another layer within which he can talk “justice” and yet refrain from talk “justice” and yet refrain from libertarian positions.libertarian positions.

Inconsistency? As when he says school Inconsistency? As when he says school costs may be defrayed by tax-dollars costs may be defrayed by tax-dollars “without injustice” (WN 815) Or when he “without injustice” (WN 815) Or when he restates the matter of desirable violations restates the matter of desirable violations in back to back sentences (WN 324)in back to back sentences (WN 324)

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Honors the powerful:Honors the powerful: ““he may assume the greatest and noblest he may assume the greatest and noblest

of all characters, that of the reformer and of all characters, that of the reformer and legislator of a great state; and, by the legislator of a great state; and, by the wisdom of his institutions, secure the wisdom of his institutions, secure the internal tranquility and happiness of his internal tranquility and happiness of his fellow-citizens for many succeeding fellow-citizens for many succeeding generations.” (TMS, p. 378-79)generations.” (TMS, p. 378-79)

Smith writes of party leaders fudging Smith writes of party leaders fudging and dissembling. Irony?and dissembling. Irony?

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FriedmanFriedman

He enjoyed establishment eminence and He enjoyed establishment eminence and ideological ascendancy.ideological ascendancy.

He explains that the world around us is a He explains that the world around us is a manifestation of his principles. His manifestation of his principles. His principles already reign. (Div of labor, spon principles already reign. (Div of labor, spon order, etc.) (pp. 9-13)order, etc.) (pp. 9-13)

Writes of the progress of enlightenment Writes of the progress of enlightenment following Adam Smith (p.33), and the following Adam Smith (p.33), and the achievement of a golden era (p. 35). But achievement of a golden era (p. 35). But interventionist errors “have since” interventionist errors “have since” reappeared. Downplays how pervasive they reappeared. Downplays how pervasive they are today (p.33).are today (p.33).

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Milton and Rose make the voluntary/coercive Milton and Rose make the voluntary/coercive distinction. However, they blur the definition of distinction. However, they blur the definition of “freedom” somewhat (p. 11), and they are vague “freedom” somewhat (p. 11), and they are vague about how strictly they adhere to the liberty about how strictly they adhere to the liberty principle. They fudge their way through the principle. They fudge their way through the discussion of Adam Smith’s three principles of discussion of Adam Smith’s three principles of natural liberty. They tell the reader that they do natural liberty. They tell the reader that they do not uphold a rigid adherence to the principle.not uphold a rigid adherence to the principle.

They honor the process and institutions of power. They honor the process and institutions of power. They affirm that we can all agree to fix the They affirm that we can all agree to fix the problems:problems: ““Our society is what we make it. We can shape our Our society is what we make it. We can shape our

institutions. Physical and human characteristics limit the institutions. Physical and human characteristics limit the alternatives available to us. But none prevents us, if we alternatives available to us. But none prevents us, if we will, from building a society that relies primarily on will, from building a society that relies primarily on voluntary cooperation to organize both economic and voluntary cooperation to organize both economic and other activity, a society that preserves and expands other activity, a society that preserves and expands human freedom, that keeps government in its place, human freedom, that keeps government in its place, keeping it our servant and not letting it become our keeping it our servant and not letting it become our master.” (p. 37)master.” (p. 37)

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Two IssuesTwo Issues

Is royalty possible today?Is royalty possible today?

The relationship between The relationship between Challengers and BargainersChallengers and Bargainers

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Is Royalty Possible Today?Is Royalty Possible Today?

I don’t really think so, though we I don’t really think so, though we should try.should try.

Arguably, Epstein or Gary Becker is Arguably, Epstein or Gary Becker is the closest case of royalty. the closest case of royalty.

Charles Murray has some royalty Charles Murray has some royalty qualities.qualities.

If Tyler Cowen got a Harvard econ If Tyler Cowen got a Harvard econ appointment . . .appointment . . .

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Is Royalty Possible Today?Is Royalty Possible Today?

We are still in the Social Democracy phase of We are still in the Social Democracy phase of the Hayekian Narrative.the Hayekian Narrative.

Academia is structurally pyramidal and Academia is structurally pyramidal and culturally central. There is little prospective culturally central. There is little prospective of real classical liberal ascendancy there.of real classical liberal ascendancy there.

The centrality of academia may be declining.The centrality of academia may be declining. But the rest of the political culture is But the rest of the political culture is

increasingly fragmented.increasingly fragmented. Maybe cultural royalty is receding generally, Maybe cultural royalty is receding generally,

not just for classical liberals.not just for classical liberals.

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Friedman: An aberration?Friedman: An aberration?

His success is cause for hopeHis success is cause for hope However:However:

A special moment: 1947-1990, say, was a A special moment: 1947-1990, say, was a period of classical liberal renaissance, and period of classical liberal renaissance, and Milton rode the crest of a wave (which he Milton rode the crest of a wave (which he helped to effect, of course). Many things, like helped to effect, of course). Many things, like textbook Keynesians, were ripe for revolt.textbook Keynesians, were ripe for revolt.

The Chicago Econ Dept was a particular and The Chicago Econ Dept was a particular and remarkable thing.remarkable thing.

Friedman is a remarkable individual.Friedman is a remarkable individual. Rose Friedman a big part of the story?Rose Friedman a big part of the story?

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Friedman’s attitude toward the Friedman’s attitude toward the economics profession:economics profession: He affirms the invisible-hand of the He affirms the invisible-hand of the

”academic market”, to utilize a position of ”academic market”, to utilize a position of royalty.royalty.

He never criticized the economics profession.He never criticized the economics profession. Yet he in fact broke out of the academic Yet he in fact broke out of the academic

mode of thinking and acting.mode of thinking and acting.

I think Smith never faced this kind of I think Smith never faced this kind of tension.tension.

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Relationship between Challengers Relationship between Challengers and Bargainersand Bargainers

The main point:The main point:

They don’t really disagree on substantive They don’t really disagree on substantive policy views. They just are playing policy views. They just are playing different roles in the cultural struggle.different roles in the cultural struggle.

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How Bargainers can help How Bargainers can help ChallengersChallengers

Bargainers Bargainers often show more intellectual flexibilityoften show more intellectual flexibility often have more intimate knowledge of often have more intimate knowledge of

current policies and issues. Hence, current policies and issues. Hence, bargainers can exert intellectual bargainers can exert intellectual discipline on the challengers. discipline on the challengers.

often enjoy more mainstream stature, often enjoy more mainstream stature, and can help challengers get an and can help challengers get an audience and respectability. audience and respectability.

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How Challengers can help How Challengers can help BargainersBargainers

Challengers can:Challengers can: serve as the conscience of bargainers, serve as the conscience of bargainers,

reawakening them to more fundamental reawakening them to more fundamental beliefsbeliefs

show how broadly the more basic ideas show how broadly the more basic ideas still hold upstill hold up

re-activate the bargainer’s authenticity re-activate the bargainer’s authenticity and reconnect them to nobler pursuits, and reconnect them to nobler pursuits, such as inspiring and edifying the youngsuch as inspiring and edifying the young

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A delicate relationshipA delicate relationship

A bargainer might help a challenger A bargainer might help a challenger to get a mainstream hearing, but to get a mainstream hearing, but only if she can trust him not to only if she can trust him not to become unduly glossy. become unduly glossy.

The challenger must likewise trust The challenger must likewise trust the bargainer not to turn on him. the bargainer not to turn on him.

Distrusting, they may shun team Distrusting, they may shun team efforts altogether.efforts altogether.

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Needful CooperationNeedful Cooperation

There are gains in team productivity There are gains in team productivity achieved by the division of labor.achieved by the division of labor.

Being mindful of the larger common Being mindful of the larger common cause may encourage mutual cause may encourage mutual contact and moral support.contact and moral support.

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