Responding to this post and recalling an earlier comment of mine from a thread at TAS, Freddie writes:
… of course libertarian orthodoxy really does render most libertarians unwitting shills for corporate interests. Although also unintentionally so, the mainstream libertarian agenda is in effect largely a sop to corporate interests. If you could wave a magic wand and enact your average libertarian’s economic agenda, our corporate leaders would fall into a joy-induced stupor. The libertarian economic agenda, to a great degree, just is the corporate economic agenda.
There are times when Freddie can be a quite incisive observer, but this is decidedly not one of those. Indeed, as my friend Tim Carney has recently observed, the most libertarian members of Congress are actually among its least “business-friendly”, for the simple reason that they’re staunchly opposed to the kinds of taxpayer-sponsored corporate giveaways that make up approximately 95% of the daily business of Washington. The libertarian economic agenda includes neither bailouts nor handouts nor bizarro tax loopholes nor unnecessary wars and the associated channeling of billions of dollars and loads of influence into the hands of defense contractors. In a perfectly libertarian world there would be no regulatory creep for the simple reason that there would be very little regulation to speak of; no influence-peddling due to the government’s lack of, well, influence; no such thing as being too big to fail or too small to cut through the red tape; no more billions channeled to Midwestern farmers to produce wasteful and unnecessary corn ethanol; and so on. To me at least, this sounds very little like the sort of thing that sends corporatists into joy-induced stupors.
Now we can, of course, read Freddie’s words with an emphasis on “unwitting” and “unintentional”; he’s not really saying that libertarians are evil, but only that they’re a bit daft. And in fact I think there’s quite a lot to the observation that on the ground, the aspects of the libertarian political agenda that have the greatest political traction are the ones that are likely to get big-time corporate funding. But the problem with this criticism is that the same is true of everyone in politics; if libertarians are accidental shills for corporate elites, then by the same token liberals like Freddie are just a bunch of unknowing tools in the hands of unions, trial lawyers, energy interests salivating over the prospect of cap-and-trade, and dozens of other powerful lobbies besides. And many of those lobbies are – get this! – representatives of those dread “corporate interests”, aiming to use the liberal agenda as a means to tilt the economic playing field by regulating their competitors into oblivion, protect their backsides when things go wrong, siphon billions away from the government in the alleged service of “green” ends, and so on. Everyone gets played in this game, and so telling a realistic story about the politics of libertarians or conservatives means telling the same sort of story about those of standard-issue liberals. The idea that it’s the libertarians, of all people, who are insufficiently sensitive to “the banal truth of the everyday corruption of human power politics” is silly beyond belief.
Filed under: economics, libertarianism, politics
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