Capitalism is a system of selfish individualism. That is why it is so successful. Individualism is the idea that individuals should decide for themselves what they will do, including what they will produce and consume. Because an individual’s preferences both cause their actions and measure the value of their outcomes, individualism naturally promotes personal welfare. Understood as a tendency to give more weight to our own welfare than to others’, selfishness is an unavoidable—and welcome—feature of human life. Individualism protects each (...) of us against the selfishness of our fellow citizens, including the authorities. (shrink)

Capitalism is a system of selfish individualism. That is why it is so successful. Individualism is the idea that individuals should decide for themselves what they will do, including what they will produce and consume. Because an individual’s preferences both cause their actions and measure the value of their outcomes, individualism naturally promotes personal welfare. Understood as a tendency to give more weight to our own welfare than to others’, selfishness is an unavoidable—and welcome—feature of human life. Individualism protects each (...) of us against the selfishness of our fellow citizens, including the authorities. (shrink)

When is a society egalitarian? When is it a meritocracy? The answers to these questions are not as obvious as some seem to think.

The government claims that the important decisions it is now making are guided by principles that simply cannot be guiding them. Their decisions must in fact be guided by other considerations. Yet they prefer to peddle nonsense than to reveal their actual thinking (assuming there is some). Why? Why do politicians, who are experts in rhetoric and seek to win public favour, relentlessly and publicly indulge in shoddy reasoning?

The government claims that the important decisions it is now making are guided by principles that simply cannot be guiding them. Their decisions must in fact be guided by other considerations. Yet they prefer to peddle nonsense than to reveal their actual thinking (assuming there is some). Why? Why do politicians, who are experts in rhetoric and seek to win public favour, relentlessly and publicly indulge in shoddy reasoning?