My Economic Interests

Given the current economic upheavals, Dalrymple looks to the works of John Kenneth Galbraith for guidance and is disappointed:

…from the fact that the managers of modern corporations are bureaucrats of some kind or another, Galbraith draws the unwarranted conclusion that there is nothing to choose, from the point of view of economic efficiency, between governmental and corporate bureaucracy, and that therefore the extension of state economic power is not to be opposed merely on the grounds that it is inherently bureaucratic. This is absurd.

Here Galbraith makes precisely the mistake that he accuses those who use the word ‘work’ to cover both unskilled heavy labor and Bill Gates’ activities of making, namely of hiding important distinctions by terminology. He ask a word to carry too much ontological baggage, and by doing so indulges in the old rhetorical trick of suppressio veri and suggestio falsi.

Read the essay at FrontPage Magazine

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