Category Archives: Books

Politics Is About Power, Not Ideology

People who want to be president are not normal. That’s what makes Robert Caro’s sprawling biography series on Lyndon Johnson so fascinating. Caro is largely sympathetic to Johnson’s politics and marvels at his adept political maneuvering. But he is also unafraid to show just how bad a human being Johnson was. Late in the first volume, he sums him up well:

A hallmark of Johnson’s career had been a lack of any consistent ideology or principle, in fact of any moral foundation whatsoever — a willingness to march with any ally who could help his personal advancement.

-Robert Caro, The Years of Lyndon Johnson: The Path to Power, p. 663.

Similar sentiments apply to both 2012 candidates. Power. Always power. Caro’s books are about that at least as much as they are about LBJ, their nominal subject. And that is why they will always be relevant.

Public Choice: A Primer


The good folks at the London-based Institute for Economic Affairs have just released an excellent book by Eammon Butler, Public Choice: A Primer. You can order a copy or download a free PDF version at this link. Public choice is essentially applying the economic way of thinking to politics; a volume in the collected works ofpublic choice founding father Gordon Tullock is even titled The Economics of Politics.

Most economics is about private decision-making by individuals or firms. Politicians, regulators, and voters make much more public choices, hence the name of the field. Many people think that politicians and regulators are different from other people. Instead of acting selfishly, they act in the public interest. Public choice depends on the controversial claim that people are people; government acts selfishly, too.

Politicians want to be re-elected. Bureaucrats want to enlarge their mission and budget, and to get that next promotion. These very human concerns affect the decisions they make and how they do their jobs. In short, just as there is market failure, there is government failure. That’s why Butler’s new primer should be required reading for everyone who works on Capitol Hill. If it doesn’t cause a wave of resignations, staffers would at least have a more realistic perception of how their colleagues behave, as well as the people who vote for them.

Other good public choice primers include William Mitchell’s Beyond Politics and Gordon Tullock, Arthur Seldon, and Gordon Brady’s Government Failure (free PDF)

Bill Clinton’s Economic Nationalism

Over at RealClearPolicy, I recently reviewed Bill Clinton’s latest book, Back to Work: Why We Need Smart Government for a Strong Economy. You can read the review here. It’s a thought-provoking book, so there’s plenty I didn’t have room to say. Hence this post. Where the review focused mainly on Clinton’s philosophy and rhetoric, this post is mainly about Clinton’s economic policy proposals. I’ll still take him over Bush or Obama, but some of his policy ideas make an economist’s head shake.

Two things are worth pointing out before we dig into the weeds of policy. One is that Clinton seems to believe that you are for something if you want to increase government spending on it, and against it if you want to cut government spending on it. The logic does not necessarily follow. Many people think the federal government should not be involved in the automobile industry. Therefore, they are against American-made cars. Yes, the logic is that weak. This bit of tunnel vision is not unique to Clinton, but it weakens many of his arguments.

The other point is a surprising one. Nationalism pervades the book; this is the belief that one person matters more than another if they are a citizen of one country instead of another. One expects this from Republicans. But it’s surprising to hear from a Democrat, let alone the man who passed NAFTA. It’s as though after decades of stump speeches telling voters that they’re better than everyone else, he started to truly believe it. Many of Clinton’s policy proposals leave no possibility but to believe that he is an American nationalist; let us explore.

Trade as a Battle

Clinton repeatedly refers to other countries as “the competition.” We have to beat them, or they’ll beat us. It’s as though he believes that for China and India to have more, America must have less. This simply isn’t true, according to global GDP data. Besides falling for the zero-sum fallacy, this reveals an ugly mindset.

Suppose we beat our competitors in Clinton’s zero-sum world. Rich Americans would be redistributing wealth away from the global poor and giving it to themselves. This kind of reverse redistribution is hardly progressive.

Outsourcing

Clinton’s economic nationalism also expresses itself in his calls for factories to “insource” jobs they currently outsource overseas. Americans deserve a job more than others. In so doing, he ignores basic economic principles. One of them is that giving someone a job doesn’t therefore mean one less job for everyone else; the zero-sum fallacy strike again. Another is the division of labor.

The finer the division of labor, the greater the wealth workers can create; Robinson Crusoe lived in poverty for all his cleverness. If the U.S. were to become self-sufficient, its division of labor would be limited to about 310 million people. But it could be more than 7 billion people if the world was fully open to trade. Imagine what 7 billion people could accomplish together, if they were all able to pursue their specialized comparative advantage.

Renewable Energy

Continuing his nationalist rhetoric, Clinton calls for the U.S. to ramp up its renewable energy production, with the eventual goal of complete energy independence. To do this, we would have to divert resources from other, more productive sectors of the economy. The price of energy independence is less wealth, and a less specialized division of labor. We’d have to stop doing things we’re good at just to get the same amount of energy we already had before.

One also questions Clinton’s method of achieving energy independence. He would transfer billions of dollars from taxpayers to private businesses. He argues that this would create jobs, wealth, and would make America more energy-independent. He does not mention the opportunity costs involved — taxpayers would have have spent their money on other things they valued more if they had been allowed to keep it.

Assume that the economics of renewable energy are as bright as Clinton claims. Then there is also no need to subsidize it. Profits are deadly effective at luring entrepreneurs. If it’s economically viable, it doesn’t need a subsidy. And if it isn’t economically viable, no amount of subsidy will make it so.

Clinton also ignores public choice concerns. Taxpayer dollars tend not to be transferred to private businesses on the merits. Political connections play a large role. It is possible that subsidies given to the right companies would produce the results Clinton is after. But the possibility of that actually happening is vanishingly small. He does not address this problem in his book.

Exports

Clinton wants the U.S. to double its exports. Germany’s exports are roughly 40 percent of its GDP; the U.S. exports 11 percent. Clinton believes that increasing exports without raising imports would create jobs and wealth. While it would put people to work, it wouldn’t make them any wealthier if all the value they work so hard to create is shipped overseas.

Increasing exports would increase the amount of currency in the U.S., true. But currency is not wealth. Dollars cannot be eaten, driven, or otherwise consumed. Wealth is stuff. Goods and services. Dollars only have value because they can be exchanged for wealth. Given the choice between a car and a bunch of green pieces of paper, most people would take the car. Millions of people make that choice every year, and millions more are saving up to do just that.

Exports are the price we pay for imports. They are neither a good thing nor a bad thing in and of themselves. There is no need to artificially increase them.

Clinton’s nationalism-influenced thoughts on trade are very similar to the mercantilism that economists have been openly mocking for centuries. Considering that Clinton is the man who passed NAFTA, this is very disappointing.

Stimulus

Clinton also believes that fiscal stimulus softened the recession’s impact. He cites a study arguing that it kept employment 1.5 to 2 percent higher than it would have been without stimulus. But again, he forgets opportunity costs. Every dollar spent and every job created under the stimulus was a dollar and a job taken away from somewhere else.

Stimulus works by taking some money out of the economy and then putting it back in – less transaction costs, of course. The best possible outcome is negative. Even allowing for a Keynesian multiplier over 1, the politicking and waste that go into any large spending bill almost guarantee that the stimulus hurt the economy.

Bailouts

Clinton praises TARP and the auto industry bailouts. Even if all the loans are repaid, the bank and auto bailouts will still be costly, as George Mason University’s Russ Roberts has pointed out. This is because capitalism is a system of profit and loss. Not one or the other. Both. Profits encourage risk. Losses encourage prudence. When government removes losses from the equation, it also removes prudence. Banks take more and more risks, because they know they won’t bear the losses from the ones that don’t pan out. This does not save the financial system. It undermines it.

The auto bailouts saved the American auto industry, Clinton claims. But it didn’t need saving. A couple of firms were in danger, and the bailout saved them. But Ford, Toyota, Honda, and the many other American companies that make cars in America using American workers were doing just fine. The bailouts locked scarce resources into inefficient companies that had good political connections. The opportunity costs are massive.

Immigration

Clinton has some good immigration ideas, not least because he lets go of his nationalism on this issue. He would like to allow more high-skilled immigrants into the country, especially the ones with advanced degrees in the STEM fields – science, technology, engineering, and mathematics. These types of immigrants are far more entrepreneurial than most native-born Americans. They would create a lot of jobs, which is Clinton’s main concern.

More importantly, they would also create much more wealth in America’s relatively entrepreneur-friendly environment than in countries with less liberal institutions. It could well be that the next Google or Microsoft will never be founded because the strict H-1B visa quota kept the wrong person out.

Summary

Almost all of Clinton’s ideas outside of immigration involve more government, instead of less. This could be because of a lack of creativity. It may be because of the planner’s hubris: “I am clever. Put me in charge.” It could also be because of an antipathy to the disorderly, and unpredictable ways of creative destruction and the market process. His plans are so much tidier, so much neater.

But the source of his ideas doesn’t matter so much. It matters if they’d work or not. Would they create more wealth and jobs on net? From the economist’s perspective, the answer is yes in a few cases, but mostly no. Clinton might like his work to be treated as one of pragmatism, but it is really a work of ideology. Given how moderate his presidency was compared to either of his successors, this is disappointing.

The Arts: Voltaire vs. Rousseau

Voltaire 1, Rousseau 0:

As the history of ancient China, Greece and Rome testifies, by bringing people together in the shared enjoyment of the ‘pure pleasures of the mind’ public theatre renders human beings more sociable in their dealings, more moderate in their behaviour, and keener in their judgement. Those nations that are without it cannot be ‘included in the ranks of civilized countries’. Well, at least the pastors of Geneva now knew where they stood. And Rousseau too. ‘Reading your book,’ Voltaire told him, ‘fills one with the desire to walk on all fours.’

Roger Pearson, Voltaire Almighty: A Life in Pursuit of Freedom, p. 248.

The Geneva slur refers to Calvinism, an art-hostile religious doctrine that dominated Geneva during Voltaire and Rousseau’s lifetimes.

Worth noting: Both men were artists at heart. Voltaire first gained fame as a playwright and a poet, and later as a historian and a satirist. Rousseau was a talented musician and composer who later made his name in philosophy.

Strangely, Rousseau was openly hostile to the arts. They are evidence of civilization, a project he largely opposed without any sense of irony, or, frankly, much sense at all.

Juvenal Delinquents


There are more regulatory reform ideas out there than you can shake a stick at. Some, of course, are better than others. Over at the American Spectator, I have a bit of fun with the idea of keeping regulators in check by having a separate body of regulators oversee them.

A new book, which I do recommend, puts that idea forward. The authors call this oversight body the Sentinel. I think regulatory problems are a bit deeper than that, and need to be dealt with at the level of incentives. The Sentinel idea is also prone to an infinite regress, but this isn’t necessarily a bad thing:

Neither party seems to realize that Sentinels offer the path to full employment. Here’s my proposal. Remember that infinite regress argument from a few paragraphs back? Sentinels will need their own Sentinels to keep them in line. But those Sentinels will need their own Sentinels. The Sentinels’ Sentinels will need Sentinels, too. And on to infinity — an infinity of jobs! Every last man, woman, and child who wants a job can get one as a Sentinel.

And yes, that is a joke. Read the whole thing here.

It Gets Better All the Time

One of the larger themes that I hope regular readers see in this blog is that people need to cooperate if they are to prosper. And when they do, wonderful things happen. Here is an example of just that, from a really good book that I’m currently enjoying:

A horse can lug two hundred pounds more than thirty miles in a day, but a C-130 carries forty-two thousand pounds over eight thousand miles during those same twenty-four hours. This makes for a 56,000-fold improvement in our ability to cooperate with one another.

Steven Kotler and Peter Diamandis, Abundance: The Future Is Better Than You Think, Kindle locations 1504-1506.

Diamandis runs the X Prize Foundation. He is midwifing the birth of commercial space travel, among other things.The book’s thesis is that exponential improvements in the quality of human life are both taken for granted, and are just the beginning.

Life is good, and it’ll only get better — especially for the bottom billion who still live in grinding poverty. What an amazing time to be alive.

Back to Work


Over at RealClearPolicy, I review Bill Clinton’s latest book, Back to Work.

One of the book’s main themes is contrasting the philosophies of “you’re on your own” and “we’re all in this together.” This is, of course, a false dichotomy.

This immediately made me think back to that bible of “you’re on your own” free-market thought, Adam Smith’s The Wealth of Nations. It spends over 1,000 pages proving that if man were on his own, he would starve. People need to cooperate and exchange to prosper. Free trade, division of labor, and other Smithian concepts are inherently “we’re all in this together.” People can only achieve great things by working together. I have yet to see anyone actually argue “you’re on your own,” ever.

The review is mostly about the book’s philosophy and rhetoric. I have further thoughts about its suggested economic policies, which I will post about soon.

Evolution Stadium

How far removed are we from our proto-human ancestors? Not as much as one would think. Richard Wrangham has a creative way to illustrate that in the beginning of his book Catching Fire: How Cooking Made Us Human:

Although the australopithecines were far different from us, in the big scheme of things they lived not so long ago. Imagine going to a sporting event with sixty thousand seats around the stadium. You arrive early with your grandmother, and the two of you take the first seats. Next to your grandmother sits her grandmother, your great-great-grandmother. Next to her is your great-great-great-great-grandmother. The stadium fills with the ghosts of preceding grandmothers. An hour later the seat next to you is occupied by the last to sit down, the ancestor of you all. She nudges your elbow, and you turn to find a strange nonhuman face. Beneath a low forehead and big brow-ridge, bright dark eyes surmount a massive jaw. Her long, muscular arms and short legs intimate her gymnastic climbing ability. She is your ancestor and an australopithecine, hardly a companion your grandmother can be expected to enjoy. She grabs an overhead beam and swings away over the crowd to steal some peanuts from a vendor.

Evolution may happen at glacial pace from our perspective. But if you zoom out a bit, it happens incredibly fast. Interesting stuff.

2011: The Year in Books

It’s year-end list season. As is now tradition on this blog, here is a list of books I read this year, and a few words about each (see also 2009 and 2010). Hopefully you’ll find a few you’ll want to pick up yourself, or give to a friend. As in past years, books that I started but didn’t finish are not included.

Please do share any lists or recommendations of your own; I’m always looking for something new.

1.    Jenny Anderson and Paula Szuchman – Spousonomics: Using Economics to Master Love, Marriage, and Dirty Dishes
I read this a month or so before my wife and I got married. Some of its advice, like utilizing comparative advantage in divvying up household chores, has made our life together a little bit better at the margin.

2.    J.C. Bradbury – Hot Stove Economics: Understanding Baseball’s Second Season
I like baseball, and I like economics. I liked this book. You may want to reacquaint yourself with the basics of regression analysis, though. It gets technical.

3.    J.B. Bury – A History of Freedom of Thought
Follows the traditional, oversimplified arc of classical times-good, medieval-bad, Renaissance-good. Bury’s commitment to free speech and religious skepticism is both admirable and heartfelt, though he isn’t always very tactful in expressing it.

4.    Bryan Caplan – Selfish Reasons to Have More Kids: Why Being a Great Parent Is Less Work and More Fun Than You Think
Rest easy, helicopter parents. If you and your spouse are intelligent and successful, genetics say your kids probably will be too. Ease up on the piano lessons you both hate and play outside instead. Have fun with your kids.

5.    Tom Clancy – Rainbow Six
A colleague recommended it. If you like Tom Clancy novels, you’ll like this book. If not, then not.

6.    Arthur C. Clarke – The Lost Worlds of 2001
Both the book and the movie went through countless re-writes in the four years that Clarke and Kubrick spent on them. This contains early versions of many scenes, along with some of Clarke’s stories about what working with Kubrick was like.

7.    Arthur C. Clarke – 2001: A Space Odyssey
Not as vivid as the movie, nor as artistic. But good nonetheless. Certainly more comprehensible.

8.    Tyler Cowen – The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History and Will (Eventually) Feel Better
Provocative, and probably intentionally so. He’s right that this century has seen no innovations on par with the telephone or the automobile. Then again, one cannot predict the future. I also think he severely underestimates the Internet’s economic benefits.

9.    Michael Crichton – State of Fear
Similar to the Clancy book. My employer is also mentioned by name.

10.    Lee Doren – Enroll Responsibility: Avoiding Indoctrination at College
Lee is a former colleague. This is his advice for finding intellectual diversity in an environment that often disdains it.

11.    Will Durant – On the Meaning of Life
One of his minor works. Durant was best known for his masterful 11-volume Story of Civilization, written with his wife Ariel. Contains Durant’s correspondence about life’s meaning with everyone from H.L. Mencken to Gandhi to a prisoner in Sing Sing, bookended by Durant’s own thoughts, first playing the pessimist, then optimist.

12.    Desiderius Erasmus – The Praise of Folly
Erasmus was one of history’s most persistent enemies of capital-C Certainty. Also much funnier than your average 16th century Dutch philosophical text. This was on purpose.

13.    Joseph Gibson – A Better Congress: Change the Rules, Change the Results: A Modest Proposal
A colleague of mine likes to say that the problem isn’t the man, and it isn’t the party. It’s the system. Enter Gibson. He has many good ideas, and a few bad ones, about how to change the system. Better incentive structures give better results.

14.    Nick Gillespie and Matt Welch – The Declaration of Independents: How Libertarian Politics Can Fix What’s Wrong with America
Their libertarianism is more cultural than political, which is a breath of fresh air. Though, unlike the authors, I still think the Velvet Underground are the most overrated band in rock.

15.    Brian Greene – The Hidden Reality: Parallel Universes and the Deep Laws of the Cosmos
Nobody will mistake this for hard science. But it’s a fun tour through theoretical physics.

16.    Tim Groseclose – Left Turn: How Liberal Media Bias Distorts the American Mind
Shrill book titles like this one turn off anyone not already sympathetic to the thesis from picking up the book and pondering it. The peer-reviewed empirical research in this book is convincing, regardless of one’s political persuasion. Groseclose’s left-leaning colleagues have repeatedly vouched for his integrity, though it will probably do little good with a book title like this one.

17. Robert Heinlein – The Menace from Earth
A collection of short stories, most of them apocalyptic in nature.

18.    Penn Jillette – God No! Signs You May Already Be an Atheist and Other Magical Tales
It’s as much autobiography as it is philosophical polemic. And he cusses like a sailor. But it’s an entertaining, if tangent-prone read.

19.    Paul Johnson – George Washington
A good introduction, but makes little of the important fact that Washington was perhaps the first man since Cincinnatus to give up power voluntarily.

20.    Kevin Kelly – What Technology Wants
Some of his ideas are a bit out there, but I learned a lot about the nature of technological progress. Certainly an improvement over Kuhn’s soporific Structure of Scientific Revolutions.

21.    Israel Kirzner – Ludwig von Mises: The Man and His Economics
More of an intellectual biography than a personal one, written by Mises’ most famous and accomplished student.

22.    Christpher B. Krebs – A Most Dangerous Book: Tacitus’s Germania from the Roman Empire to the Third Reich
A neighbor lent this to me when he learned of my interest in Tacitus. This book follows Germania’s career from the Dark Ages, when monks copied it down to preserve it for posterity, through the Renaissance, the birth of German romanticism and nationalism, and, finally, the horrors of National Socialism. Sometimes books have an unintended influence that would horrify the author.

23.    Bob Lutz – Car Guys vs. Bean Counters: The Battle for the Soul of American Business
He’s pro-bailout, so that’s strike one. He’s irrationally pro-Chevy Volt; strike two. But he also knows that a successful business needs passionate people in charge. Car guys, not bean counters. Accountants have their place. But not at the top. GM learned that the hard way.

24.    Deirdre McCloskey – The Bourgeois Virtues: Ethics for an Age of Commerce
Capitalism doesn’t just make people richer, it makes them more virtuous. Markets don’t work without trust, honesty, and respect. And mass prosperity lets people devote more time and energy to love, art, friends, charity, and more.

25.    Deirdre McCloskey – Bourgeois Dignity: Why Economics Can’t Explain the Modern World
What caused modern prosperity? McCloskey thinks it was a change in rhetoric and public opinion around the time of the Enlightenment. Institutions, markets, and all the usual economic explanations certainly matter. But first, people had to lose their hostility towards commerce and a bourgeois lifestyle.

26.    Herman Melville – Moby Dick
I don’t read as much literature as I would like. So when I do, I usually go for the classics; I’m confident they’ll be good. And true to reputation, there was poetry in Melville’s prose. It also read surprisingly quickly, so don’t let its length scare you off.

27.    Ludwig von Mises – Bureaucracy
Markets have prices, profits, and losses. Bureaucracy’s distinguishing feature is that it doesn’t. Bureaucracies are inefficient because, unlike markets, they have no way to calculate the most efficient way to provide a service, or even the value of the service itself.

28.    Iain Murray – Stealing You Blind: How Government Fat Cats Are Getting Rich Off of You
Government isn’t for the people, it’s for government. Corporations are for corporations, not consumers. Unions are for unions, not workers. Rent-seeking is everywhere. Fortunately, Iain, a colleague, has many good ideas for reform. Click on the book title to see my more detailed Amazon review.

29.    Elizabeth Nash – Seville, Cordoba, and Granada: A Cultural History
My wife and I visited Seville and Granada on our honeymoon. This book helped to bring us up to speed on what we were seeing.

30.    Robert Nozick: Anarchy, State, and Utopia
The classic defense of minarchism. Nozick’s intellect was famously curious and playful, and it shows throughout. He asks dozens of fun questions for the reader to ponder without answering them for him, and thought experiments abound.

31.    Tom G. Palmer – Realizing Freedom: Libertarian Theory, History, and Practice
A collection of over two decades of essays that somehow successfully coheres into a whole. Tom thinks and writes at a high level, yet it isn’t a difficult read.

32.    Tom G. Palmer, ed. – The Morality of Capitalism
Contains short essays from around the world by economists, philosophers, a Nobel-winning novelist, and a businessman about why market liberalism is more moral than its illiberal alternatives. A valuable addition to the debate.

33.    Mary Platt Parmele – A Short History of Spain
More travel reading for our honeymoon.

34.    Peter Pierson – The History of Spain
See above, but 300 pages instead of 100.

35.    Varlam Shalamov – Kolyma Tales
Fiction, but only barely. Readers of Solzhenitsyn’s One Day in the Life of Ivan Denisovich will know what I mean.

36.    Carl Sagan – Demon-Haunted World
Sagan’s paean to skepticism and the scientific method. Tangent-prone, and his lack of economic training shows in his policy prescriptions, but mostly excellent.

37.    Michael Shermer – The Believing Brain: From Ghosts and Gods to Politics and Conspiracies—how We Construct Beliefs and Reinforce Them As Truths
This is an important book. Read it. Humans are wonderful creatures, and yet frustratingly irrational. Shermer’s concepts of patternicity and agenticity do much to explain why.

38.    Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations
It begins with Smith’s underappreciated theory of the division of labor, and ends with a call for American independence. In between is some folly and much, much wisdom.

39.    Timothy Snyder – Bloodlands: Europe between Hitler and Stalin
The worst of World War II’s horrors, including the Holocaust and the Ukraine famine, largely happened in Eastern Europe between Germany and Russia. Snyder calls this region the Bloodlands, and rightly so. Belarus, for example, lost half its population during the war. And not to immigration.

40.    Alex Tabarrok – Launching the Innovation Renaissance: A New Path to Bring Smart Ideas to Market Fast
A short e-book put out by the TED Foundation. Tabarrok is skeptical of most patents, wants more high-skilled immigration, and finds a depressing lack of competition and innovation in the three largest economic sectors – government, health care, and education. That makes optimism for the future difficult, but not impossible.

41.    Tacitus – The Agricola and the Germania
The Agricola is Tacitus’ encomium to his departed father-in-law, who served as consul, and did much to conquer Britain. The Germania is his description of the barbarian peoples who inhabited what is today Germany. Back then, it was the outer reaches of the Empire and beyond. He may or may not have actually visited the region.

42.    Mick Wall – Enter Night: A Biography of Metallica
I’ve been listening to Metallica for twenty years. Why not learn a little bit about them?

43.    Alison Weir – The Six Wives of Henry VIII
Not only did this book help me straighten out in my head this particular procession of queens for the first time, Weir writes in great depth about their personalities and what life was like in Tudor England for nobles and royals. A really good read.

44.    H.G. Wells – The Time Machine
The writing and plot are clunky, but this was still a fun read. This was the very first story to feature a machine that could travel through time.

45.    Robert Zaresky and John T. Scott – The Philosophers’ Quarrel: Rousseau, Hume, and the Limits of Human Understanding
A dual biography of polar opposites, both in philosophy and personality. They were close friends at one time, but Rousseau’s paranoid tendencies in later life caused a rift that became the talk of Europe.

Isaac Newton’s Funeral

Throughout history, most societies have been based on status. King, noble, and peasant. Brahmin and untouchable. Mandarin and coolie. One of liberalism’s crowning achievements is tearing down those old status societies and replacing them with contract societies. In a liberal society, all people have equal rights, and must deal with each other as equals. No man is forced to grovel before a duke or a king. He may look him in the eye now.

Bill Gates and Warren Buffett are far richer than I am. But if one of them wrongs me, I get my day in court. They might have better lawyers with shinier suits than me. But we are still equals before the law.

This was a novel phenomenon in the 18th century, mainly confined to England and the Netherlands, and even far more imperfectly than today. Here’s how Isaac Newton’s funeral looked through French eyes:

Having come from a nation where aristocracy and clergy held a monopoly on power and privilege, Voltaire marveled at a society where a scientist was buried with the honors of a king.

Robert Zaresky and John T. Scott, The Philosophers’ Quarrel: Rousseau, Hume, and the Limits of Human Understanding, location 877 in the Kindle version.

Isaac Newton’s life was a landmark event in the history of science. His funeral was, unknowingly, a landmark event in the history of human freedom.