Bastiat On The Virtues Of Misers

In my view, the moral problem at the root of socialism is actually not envy, as many libertarians contend. I grew up among socialists, and they were, by far, motivated by honorable concerns: a sense of injustice, grief for the poor, compassion.

(I’m not talking here about political activists, some of whom do, in fact, have much baser motives).

The principal flaw in the socialist world view, as I see it, is a too great concern with appearances and an inability to see cause and effect in any complex way. It’s not the ‘materialism’ of dialectical materialism I object to. It’s the lack of ‘mind’ in the materialism. The reasoning is limited, superficial, and inaccurate. It lacks sufficient particularity, as Michael Oakeshott argued in “Rationalism in Politics” (1962).

And as Oakeshott argued there, that can be a problem in Hayek, as well.

Libertarian theorist, Frederic Bastiat, makes much the same point in his acute analysis of the superiority of the miser over the spendthrift, an analysis that would be iconoclastic from the point of view of traditional religious morality, where the miser’s avarice would usually be condemned and the spendthrift’s generosity praised:

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Bastiat On Roman Rule

Many thanks to Kevin Duffy for pointing me in the direction of this essay by Bastiat. It’s a marvel, filled with ideas, each of which could be developed into a full book in its own right.

“What is to be said of Roman morality? And I am not speaking here of the relations of father and son, of husband and wife, of patron and client, of master and servant, of man and God—relations that slavery, by itself alone, could not fail to transform into a whole network of depravity; I wish to dwell only on what is called the admirable side of the Republic, i.e., patriotism. What was this patriotism? Hatred of foreigners, the destruction of all civilization, the stifling of all progress, the scourging of the world with fire and sword, the chaining of women, children, and old men to triumphal chariots—this was glory, this was virtue….It is from Rome undoubtedly that this adage comes to us, true in regard to theft, false in regard to labor: one nation’s loss is another nation’s gain—an adage that still governs the world.

To acquire an idea of Roman morality, imagine in the heart of Paris an organization of men who hate to work, determined to satisfy their wants by deceit and force, and consequently at war with society. Doubtless a certain moral code and even some solid virtues will soon manifest themselves in such an organization. Courage, perseverance, self-control, prudence, discipline, constancy in misfortune, deep secrecy, punctilio, devotion to the community—such undoubtedly will be the virtues that necessity and prevailing opinion would develop among these brigands; such were those of the buccaneers; such were those of the Romans. It may be said that, in regard to the latter, the grandeur of their enterprise and the immensity of their success has thrown so glorious a veil over their crimes as to transform them into virtues. And this is precisely why that school is so pernicious. It is not abject vice, it is vice crowned with splendor, that seduces men’s souls.”