Politics is institutionalized fragility - it rewards greed (rent-seeking, redistributive populism) and fear-mongering, thus creating a destructive positive feedback loop of prudential and moral decay (epitomized by the attitude that everyone is legally entitled to live at the expense of everyone else).
Voluntarism, and particularly laissez-faire capitalism, is institutionalized anti-fragility - it punishes those whose betrayal of temperance for greed and abandonment of courage for fear compromises their ability to satisfy effectively the needs and desires of their fellow human beings, thus creating a positive feedback loop of prudential and moral improvement (epitomized by the attitude that charity requires liberty and demands gratitude, while wealth requires sustained, other-oriented effort and deserves respect).
Saturday, December 22, 2012
Laissez-Faire Is Institutionalized Anti-Fragility
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