Philosophical musings

Your essay on reinventing liberalism for the 21st century was a wide-ranging, refreshing reminder of where we’ve been, where we are and how we need to improve (September 15th). As you said, “the core liberal causes of individual freedom, free trade and free markets have been the most powerful engine for creating prosperity in all history.” Significantly, at only two points did your essay mention “capitalism”, and even then as something adjacent to free markets rather than integral to them.

Moving forward, liberals need to be clear that their support for free markets does not equate to support for capitalism. The ownership of the means of production clearly merits discussion, but what liberals should all agree upon is that making choices in free markets is a fundamental part of human freedom.

Professor Michael Mainelli
Worshipful Company of World Traders

18 October 2018 –