BETWEEN THE GREAT Lisbon Earthquake and the revolutionary year of 1848 the European chattering classes had three big ideas. One was very, very good. The other two were very, very bad. We’re still paying.
The good one, flowing from the pens of such members of the clerisy as Voltaire, Thomas Paine, Mary Wollstonecraft, and above all the Blessed Adam Smith, is what Smith described in 1776 as the shocking idea of “allowing every man [or woman, dear] to pursue his own interest in his own way, upon the liberal plan of equality, liberty, and justice.”
Admittedly, true liberalism took a long time. “All men are created equal” was penned by a man who kept in slavery most of his own children by Sally Hemings, not to mention Sally herself. Even…
