At its Online Library of Liberty, Liberty Fund hosts a monthly “Liberty Matters” forum in which a set of scholars discusses a particular set of ideas. This month’s forum features Deirdre McCloskey‘s Bourgeois Era series of books, two of which have been published (Bourgeois Virtues, Bourgeois Dignity). McCloskey’s main argument is that the various material and institutional factors that we’ve hypothesized as the causes of industrialization and the dramatic increase in living standards are insufficient for explaining why it happened when, where, and how it did — in northern Europe, particularly Britain and the Netherlands, accelerating in the 18th century from previous foundations there. The most important factor, according to McCloskey, was ideas, particularly the cultural acceptance of commerce, trade, and mercantile activity as honorable.
The forum features a lead essay from Don Boudreaux, commentary essays from Joel Mokyr and John Nye, and responses from McCloskey and the other authors. The forum will continue for the rest of the month, with further commentary certain to follow.
If you want an opportunity to think about one of the most important intellectual questions of economics, here it is. The essays, responses, and interactions are an encapsulation of a lively and important debate in economic history over the past two decades. And if you want to dig more deeply, the bibliography and the references in each essay are a reading list for a solid course in economic history. These ideas affect not only our understanding of economic history and the history of industrialization, but also how ideas and attitudes affect economic activity and living standards today. Well worth your time and consideration.