McCloskey on economic ideology

Innovation backed by ideology, then, promises in time to give pretty good lives to us all. Left and right tend to dismiss the other’s ideology as “faith.” The usage devalues faith, a noble virtue required for physics as much as for philosophy, and not necessarily irrational. But maybe both sides are correct. A socialist maintains her faith in governmental planning despite the evidence that it doesn’t work to the benefit of the poor. A conservative maintains his faith that what’s good for the military-industrial complex is good for the country despite the evidence that it impoverishes and coarsens the people.

http://www.cato-unbound.org/2010/10/04/deirdre-mccloskey/bourgeois-dignity-a-revolution-in-rhetoric/

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Henry C Alphin Jr
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