Please see my latest wire for The American Spectator, ‘Boris and Manchester United’:
It was a stroke of genius for Britain’s prime minister, Boris Johnson, to begin his Brexit roadshow to talk up Britain’s “new golden age” in Manchester.The city’s name serves as a metonym for free market economics: “Manchesterism.” It became so closely identified with laissez-faire that Pius XI referred to it in his 1931 encyclical Quadragesimo Anno. “Manchesterian Liberals,” Pius tut-tutted, hold the inimical view that “whatever was produced, whatever returns accrued, capital claimed for itself, hardly leaving to the worker enough to restore and renew his strength.”
Economic historian W.D. Grammp, noting this pejorative continued into the 1960s, called the Manchester School “a policy that relies on the market as much as it can and (even to today’s classical liberals) somewhat more than it ought.”
Such was not the original intent of its founders, Richard Cobden and John Bright, who were focused in the mid-1840s on repealing the Corn Laws, legislation that protected British landowners from cheap foreign wheat, a competitive advantage that made bread unaffordable for the working poor. Instead, Grammp observed, Manchesterism “had much less to say about the principle of economic freedom than about the likely effects of its practice in foreign trade.”
Mr. Johnson steps into this breach, for he is intent on emphasizing how Brexit leads to greater freedom and prosperity for both individuals and the nation. Call it “leveling up.” Instead of the redistributionist policy whereby equality is achieved through less for everyone, free market innovation and entrepreneurship expand both opportunity and the economic sphere.
Remarks are welcome on DMI’s Facebook page.
My thanks to editor Wlady Pleszczynski of The American Spectator.
Posts
