Creative Language, Creative Destruction, Creative Politics
Why did the North-Sea folk suddenly get so rich, get so much cargo? The answers seems not to be that supply was brought into equilibrium with demand---the curves were moving out at breakneck pace. Reallocation is not the key. Language is, with its inherent creativity. The Bourgeois Revaluation of the 17th and 18th centuries brought on the modern world. It was the Greatest Externality, and the substance of a real liberalism. Left and right have long detested it, expressing their detestation nowadays in environmentalism. They can stop the modern world, and in some places have. The old Soviet Union was admired even by many economists---an instance of a “cultural contradiction of capitalism,” in which ideas permitted by the successes of innovation rise up to kill the innovation. We should resist it.
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- DONALD N. McCLOSKEY, 1970. "Did Victorian Britain Fail?," Economic History Review, Economic History Society, vol. 23(3), pages 446-459, December.
- V. Storr, 2006. "Weber’s spirit of capitalism and the Bahamas’ Junkanoo ethic," The Review of Austrian Economics, Springer, vol. 19(4), pages 289-309, December.
- McCloskey, Donald N., 1972. "The Enclosure of Open Fields: Preface to a Study of Its Impact on the Efficiency of English Agriculture in the Eighteenth Century," The Journal of Economic History, Cambridge University Press, vol. 32(01), pages 15-35, March.
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