Principles for a Free Society

Paul Weissman

. . .[T]o be dazzled by Epstein is by no means necessarily to agree with him. For all its air of tough-minded realism, his free market theory is an essentially utopian construct. . . .[the book] will provoke passionate responses from many readers. . . . .even readers disposed to debate. . .will find themselves challenged by a powerful and original intellect.
—New York Times Book Review

Publishers Weekly - Publisher's Weekly

A truism of academe is when faced with a dilemma, make a distinction. Epstein, professor of law at the University of Chicago and author of Mortal Peril: Our Inalienable Right to Health Care?, follows this advice in trying to reconcile individual liberty and the common good. In lucid, readable prose he argues that the two are compatible, provided that certain distinctions and qualifications are made. Epstein spends considerable time explicating the laissez-faire doctrine, insisting that it need not glorify the individual at the expense of society: when applied pragmatically rather than dogmatically, it maximizes the welfare of all. Epstein realizes, of course, that the Achilles heel of the free-market system is the inequitable distribution of wealth, but he believes that a "voluntary redistribution" will solve the problem, although "it will always leave some individuals short." Similarly, he says, it's "always painful to deny recovery for an individual in need" but we don't want a system that encourages self-destructive behavior. At this point one suspects that Epstein's book does not reconcile freedom and equality so much as champion laissez-faire capitalism with some limitations. One also wonders whether he shouldn't care more that Adam Smith's unseen hand can become the unseen foot, kicking those who are down. (Sept.)

Library Journal

As Epstein, the James Parker Hill Distinguished Service Professor of Law at the University of Chicago, correctly notes in his introduction, laissez-faire economics is one of the most frequently criticized theories ever proposed. But libertarianism, the subject of this book, is much more than laissez-faire economics. When coupled with the absolutism of individual rights and minimalist government, libertarianism produces a social Darwinist society. Epstein attempts to present a balanced explanation of libertarianism while still mightily defending its basic principles. Often criticized as unsympathetic to the common good, libertarianism as described here does have a more human face. Though he makes many questionable assumptions, Epstein should be commended for his clear discussion of the development of libertarianism's basic tenets. The result, while not an easy read, is worth the effort of anyone seeking to understand libertarianism and what it may offer America.--Thomas J. Baldino, Wilkes Univ., Wilkes-Barre, PA

Booknews

Epstein (law, U. of Chicago) defends the principles of limited government and argues that it can work to the advantage of almost all of society. He warns, however, that a careful dilution of pure laissez-faire policies is necessary to balance a powerful economic engine with individual liberty. He analyzes the interaction of law and social norms, and highlights a handful of restraints that he says provide a moral foundation to a resilient and adaptive capitalist system. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Paul Weissman

. . .[T]o be dazzled by Epstein is by no means necessarily to agree with him. For all its air of tough-minded realism, his free market theory is an essentially utopian construct. . . .[the book] will provoke passionate responses from many readers. . . . .even readers disposed to debate. . .will find themselves challenged by a powerful and original intellect. -- New York Times Book Review