Heilbroner’s Law

Saturday, May 16th, 2009

Left-libertarian Michael Strong (Be the Solution) argues that liberal is neither Left nor Right and wishes that more Leftists would face up to illiberal Leftism’s failures. He cites lifelong-socialist Robert Heilbroner’s acknowledgment from near the end of his life:

Capitalism has been as unmistakable a success as socialism has been a failure. Here is the part that’s hard to swallow. It has been the Friedmans, Hayeks, and von Miseses who have maintained that capitalism would flourish and that socialism would develop incurable ailments. All three have regarded capitalism as the ‘natural’ system of free men; all have maintained that left to its own devices capitalism would achieve material growth more successfully than any other system. From [my samplings] I draw the following discomforting generalization: The farther to the right one looks, the more prescient has been the historical foresight; the farther to the left, the less so.

Mencius Moldbug had always seen this quote cut off after the first sentence. He dubs the last bit Heilbroner’s Law.

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