Review of Robust Political Economy
A book by Mark Pennington. Review by Donald Boudreaux. He really likes it.
In Robust Political Economy, Mark Pennington offers one of the best cases for classical liberalism ever presented in a single volume. I do not exaggerate. Pennington—professor of political economy at King’s College, University of London—here surveys fully and summarizes fairly the major objections to classical liberalism (or, if you prefer, libertarianism). He systematically demonstrates that each of those objections fails. The alternative social arrangements, plans, and schemes offered by opponents of classical liberalism all fall well short of dealing adequately with two eternal problems that must be dealt with if people are to enjoy peace and prosperity: the knowledge problem and the incentive problem.