Why is South Korea Wealthier Than North Korea?

by | Oct 27, 2022

The heart of the liberal philosophy is a belief in the dignity of the individual, in his freedom to make the most of his capacities and opportunities according to his own lights, subject only to the proviso that he not interfere with the freedom of other individuals to do the same. This implies a belief in the equality of men in one sense; in their inequality in another. Each man has an equal right to freedom. This is an important and fundamental right precisely because men are different, because one man will want to do different things with his freedom than another, and in the process can contribute more than another to the general culture of the society in which many men live.

– Milton Friedman, Ph.D., Capitalism and Freedom (1962 [2002], University of Chicago Press), p. 195.

 

Richard M. Ebeling, an AIER Senior Fellow, is the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel, in Charleston, South Carolina.

Book discussed: For a New Liberalism

Spotify

Keith Knight

Keith Knight

Keith Knight is Managing Editor at the Libertarian Institute, host of the Don't Tread on Anyone podcast and editor of The Voluntaryist Handbook: A Collection of Essays, Excerpts, and Quotes.

View all posts

Our Books

Shop books published by the Libertarian Institute.

libetarian institute longsleeve shirt

Our Books

15 books

Recent Articles

Recent

The Politically Incorrect Guide to Pearl Harbor

The Politically Incorrect Guide to Pearl Harbor

https://youtu.be/TkJc66nL19c At the time, Henry Lewis Stimson was the U.S. Secretary of War, and in the 1946 “Investigation of the Pearl Harbor Attack” Stimson’s diary is brought into evidence. On page 177, the report cites a diary entry from November 25, 1941, almost...

read more
WTF Happened in 1971?

WTF Happened in 1971?

https://youtu.be/vdFBoGZycRI The second week of August the British Ambassador appeared at the treasury Department to ask that three billion dollars be converted into gold. Whether we honored or denied this request the consequences of our action would be fraught with...

read more

Pin It on Pinterest

Share This