Sen Or Sense
Socialism has much popular appeal, primarily for ethical and political reasons. Most advocates of the free market economy did not defend it on moral grounds. This is unfortunate. The Nobel Laureate Amartya Sen is one economist who appreciates the connection between ethics and economics, and there are some half truths in his world view. However, good intentions are not enough for alleviation of poverty. My article titled " Sen Or Sense " was published in The Freeman in February 1999. In the battle over economics, the victory of the market seemed decisive. It had not been easy. Since the days of Adam Smith, the world economy had to cross the turbulent waters of colonialism, mercantilism, socialism, fascism, and communism before liberalization, globalization, and privatization became accepted as part of our general vocabulary. But even before the process of consolidation is over, it now seems that free market ideas are faced with insidious threats as never before. Indeed, the po...