February 17, 2008 by Tom Armstrong.

We’ve heard Bill Gates call for a new type of capitalism, one more interested in helping others. I suppose he does not think companies like his can help people if the company is only interested in itself. We know better. The world would be a great place if we were all motivated by love for our neighbor. While we see some people helped by altruistic behavior, there is not enough to go around. We can help others by simply helping ourselves–Adam Smith demonstrated this in the 18th century.

This brings me to Gary Becker. The professor, writing about Gateses ideas on corporate altruism, takes an example from Adam Smith that has always resonated with me. It goes:

Smith was skeptical not about the strength of altruism, but about its scope or reach. For example, he uses an example in this book that is highly relevant to the present and to Gates’ quest. He asks “how a man of humanity in Europe: would respond to hearing ” that the great empire of China… was suddenly swallowed up by an earthquake…”? His answer was that “If he [this man] was to lose his little finger tomorrow, he would not sleep tonight; but, provided he never saw them [i.e, the people of China], he would snore with the most profound security over the ruin of a hundred million of his brethren, and the destruction of that immense multitude seems plainly an object less interesting to him than this paltry misfortune of his own” (Part III, Chapter 3).

Liberals tend to hate this above example. But one must ignore them, for they prefer not to live in reality. After all, trying to have an intelligent conversation with a far-left liberal is as futile as trying to potty train a wild hog.

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February 17, 2008 by Tom Armstrong.

Mark Perry links to this below, which begins:

Philosophically, Americanism means individualism. Individualism holds that one’s personal identity, moral worth, and inalienable rights belong to one as an individual, not as a member of a particular race, class, nation, or other collective.

But collectivism is the premise of “Buy American.” In purchasing goods, we are expected to view ourselves and the sellers not as individuals, but as units of a nation. We are expected to accept lower quality or more expensive goods in the name of alleged benefits to the national collective.

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February 17, 2008 by Tom Armstrong.

Tyler Cowen in today’s NY Times on the presidential election.

HT: Cafe Hayek

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