Sunday, December 30, 2012


Bernard Mandeville (1670-1733) was the 1st writer to describe the supposed workings of the Free Market Fairy and his conception of the free market was a major influence on Adam Smith's notion of the Invisible Hand.  Today Mandeville is best know for his claim that private vices lead to public benefit in The Grumbling Hive, later re-published and greatly expanded as The Fable of the Bees.

Isaiah Berlin famously argued that Machiavelli's genius lay primarily in his exposure of the gulf between political morality and Christian morality and I think Mandeville similarly exposed the gulf between economic morality and Christian morality.

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