Strengthening Constitutional Self-Government

Events

Gordon Lloyd

Professor of Public Policy, Pepperdine University

Ashbrook Colloquium

Topic: Are We More Interested in Votes and Taxes or Bread and Cake?: The Difference Between Political Economy and Social Economy

Friday, November 4, 2011
3:00 PM
Ashbrook Center

Listen (Length: 1:23:01)

Summary: The basic spectrum of public
policy, certainly in the Western World, over the last four centuries reflects one
of two rival and opposite points of departure. The first, the liberty narrative,
is grounded in the work of John Locke and subsequently “corrected” by Adam Smith, the American Founding, John Stuart Mill and in the twentieth century
by such thinkers as F. A. Hayek and Milton Friedman. The second, the equality
narrative, is grounded in the work of J.J. Rousseau and subsequently “corrected”
by the French Revolution, the early socialists, Karl Marx and in the twentieth
century by popular social economists like John Kenneth Galbraith and Michael Harrington. The liberty narrative emphasizes the importance of the “liberty basket” and political economy: private property as a reward for entrepreneurship, the wisdom of market forces, limited government, and the
capacity of humans to govern themselves in the political, economic, and religious
realms. The equality narrative emphasizes the importance of the “equality
basket” or social economy: private property is the result of theft, the anarchy
of market forces and the need for the wisdom of planners, a centralized administration expressing the general will, and the victimization and alienation of ordinary human beings.

Gordon Lloyd earned his B.A. in economics and political science at McGill University. He completed all the coursework toward a doctorate in economics at the University of Chicago before receiving his M.A. and Ph.D. degrees in government at Claremont Graduate School. The coauthor of three books on the American founding and sole author of a book on the political economy of the New Deal, he also has numerous articles, reviews, and opinion-editorials to his credit. His latest coauthored book, The Two Narratives of
Political Economy
, was published in 2010. He is the creator, with the help of the Ashbrook Center, of three highly regarded websites on the origin of the Constitution. He has received many teaching, scholarly, and leadership awards including admission to Phi Beta Kappa and the Howard White Award
for Teaching Excellence at Pepperdine University. He currently serves on the
National Advisory Council for the Walter and Leonore Annenberg Presidential
Learning Center through the Ronald Reagan Presidential Foundation.

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