John Fund reviews Brian Doherty’s new book Radicals For Capitalism
Scores of books have been written on the role of communists and socialists in the U.S., dour chronicles of welcome failure. But very few writers have devoted much attention to the role of libertarians, a more appealing and optimistic group of thinkers, political activists and ordinary citizens who believe that respect for the individual and the spontaneous order of market forces are the key to progress and social well-being.
The neglect is strange, given how much libertarians and their limited-government logic have shaped the culture and economy of the U.S. The ideas of John Locke and David Hume animated the writings of Thomas Jefferson and Thomas Paine. Libertarian principles kept what we think of as “big government” in check for much of the 19th century and well into the 20th, despite tariffs and war. The federal income tax officially arrived, in permanent form, as late as 1913. Coolidge and his Treasury secretary, Andrew Mellon, took a famously minimalist approach to governing. Of course, we now live in a post-FDR age, with government programs everywhere. Still, the libertarian impulse is part of our political culture. “I believe the very heart and soul of conservatism is libertarianism,” Ronald Reagan declared.
And then there’s the question of what libertarians may accomplish in the future:
Today the Internet has become, Mr. Doherty notes, an efficient way to transmit libertarian ideas and show their practical application. (With its decentralized, free-wheeling ethos, the Internet is itself libertarian without even trying to be.) Jimmy Wales, the man who started the interactive online encyclopedia Wikipedia, believes that “facts can help set the world free.” The largest retail market in the world is eBay, which allows anyone to buy and sell without a government license.
Louis Rosetto, the “radical capitalist” who founded Wired magazine, notes that, even if libertarian ideas must now push against a statist status quo, “contrarians end up being the drivers of change.” Among the most ornery contrarians, he says, are the libertarians “laboring in obscurity, if not in derision.” They have managed “to keep a pretty pure idea going, adapting it to circumstances and watching it be validated by the march of history.” Mr. Doherty has rescued libertarianism from its own obscurity, eloquently capturing the appeal of the “pure idea,” its origins in great minds and the feistiness of its many current champions.
My copy of Radicals For Capitalism
