Roberts on Classical Liberalism

quotes classical liberalism hayek

07 Apr 2014

Russ Roberts on classical liberalism:

My intellectual heros are Adam Smith, F.A. Hayek, and Milton Friedman. Those of us who share their views on life used to be called liberals, but the left stole our name. So now we have to call ourselves something different. So sometimes we call ourselves libertarians. Sometimes we call ourselves classical liberals. It is the same thing. Classical here means old fashioned. What does that mean to be a classical liberal? I believe in the life and the dreams of every individual. And at the same time I recognize the fact that human beings - that we are not perfect. Because we are not perfect, because we all have flaws, I believe in limiting the power of any individual or any group of individuals to make decisions for other people using force via the power of the state. I want to limit the power of the state, the power of the government for four reasons. I am going to call them the knowledge problem, the incentive problem, the power problem and the paternalism problem…

Listen to more here.