Sunday, October 02, 2011

Book Review: The Price of Civilization - WSJ.com

This is from Paul Ryan:

Book Review: The Price of Civilization - WSJ.com: Free enterprise has never lacked for moral critics. In the mid-18th century, for instance, the French philosopher Jean-Jacques Rousseau rejected the proposition that the free exchange of goods and services, and the competitive pursuit of self-interest by economic actors, result in general prosperity—ideas then emanating from Great Britain. In a commercial society, according to Rousseau, the people are "scheming, violent, greedy, ambitious, servile, and knavish . . . and all of it at one extreme or the other of misery and opulence." Only a people with "simple customs [and] wholesome tastes" can be virtuous.

In "The Price of Civilization," Jeffrey Sachs carries Rousseau's argument into the 21st century. Mr. Sachs, a development economist at Columbia University, believes that "at the root of America's economic crisis lies a moral crisis: the decline of civic virtue among America's political and economic elite." The book's veneer of economic analysis cannot conceal what is essentially a crusade against the free enterprise ethic of our republic.

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