Robust political economy (or why classical liberal institutions are best)
I was impressed by Mark Pennington when I heard him speak at a Mont Pelerin Society conference a couple of years ago, and am more impressed now after having read his new book Robust Political Economy: Classical Liberalism and the Future of Public Policy.
Pennington says in his introduction that his aim is synthesis more than originality in classical liberal theory, but the book is very ambitious in applying a ‘unified theoretical framework’ of classical liberal ideas about limits on knowledge and moral motivations to a range of partially or fully rival theories in or associated with neo-classical economics, left-liberalism, social justice, social capital and deliberative democracy.
My forthcoming review of the book is below the fold, or if you prefer here is his IEA presentation on the book and here is the Cato presentation. Read the rest of this entry »

