Occasional Papers
The Enemies of Progress
In the third John Bonython Lecture, Ralph Harris recounts the advances that economic freedom and entrepreneurship have brought the world and reminds us that all this good has been an ‘unintended consequence of human action, or, in Adam Smith’s phrase, ‘It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner but from their regard to their own interest’
The catch comes, according to Harris, when politicians act in their own self-interest- after all, they are no worse, if no better, than the rest of us. Their self-interest is in maximising votes to win and keep power, and the most expedient way is by promising favours in return for support through the ballot box; in short, by buying votes. They find no lack of organised special interest groups ready to make a deal.
These special interests are undermining the democratic system and thwarting developments in products and services that would benefit everyone in society.
