Skip to main content

Niall Ferguson on "What Price Liberty?"

One of the best things I read over the Memorial Day weekend was Niall Ferguson's review in the Financial Times of Ben Wilson's new book, What Price Liberty?. I'd like to share some of it with you.

Here's an excerpt from that review:

"“The privileges of thinking, saying, and doing what we please, and of growing as rich as we can, without any other restrictions, that by all this we hurt not the public, not one another, are the glorious privileges of liberty.”

These are the words of “Cato” (the nom de plume of John Trenchard and Thomas Gordon), writing in the early 1720s. For the better part of two centuries, that view was widely held in England, and Englishmen were not wrong to believe that it set them apart from continental Europeans and “Orientals”.

Also integral to the English conception of liberty was John Locke’s linkage of freedom and private property. In the landmark Entick v Carrington case (1765), Lord Camden ruled against the government for raiding the home of the radical journalist John Entick. “The great end for which men entered into society was to secure their property,” declared Camden. “By the laws of England, every invasion of private property, be it ever so minute, is a trespass.”

Almost as important was the principle of minding your own business. “The taste for making others submit to a way of life which one thinks more useful for them than they do themselves,” John Stuart Mill explained to the French liberal Alexis de Tocqueville, “is not a common taste in England.”

Do what you like as long as you do no harm. An Englishman’s home is his castle. And mind your own bloody business. When did these three great principles of liberty cease to be sacrosanct in England? Wilson has little doubt that it was the two world wars that began the process...".

Do check out the full piece, especially if you're interested to know how an English writer's discussion of liberty pertains to those of us living in the good ole' USA.

As Ferguson notes in his review, you can also download Wilson's book, What Price Liberty?, for any price you wish.

Related articles and posts:

1. Ben Wilson: What Price Liberty? - What Price Liberty? Blog.

2. Niall Ferguson: The Ascent of Money (PBS) - Finance Trends.

Popular posts from this blog

Nasdaq credit rating junked.

S&P cut Nasdaq's credit rating to junk status citing debt burdens and its questionable strategy to buy a controlling interest in the London Stock Exchange. Financial Times reported that the exchange's counterparty credit & bank loan rating were lowered fromm BBB- (lowest investment grade rating) to BB+. The change will increase Nasdaq's borrowing costs should it wish to pursue aquisition targets. For an earlier look at the exchange consolidation trend that brought about Nasdaq's push for a stake in the LSE, please see "Exchange fever" .

Clean Money - John Rubino: Book review

Clean Money by John Rubino 274 pages. Hoboken, New Jersey John Wiley & Sons. 2009. 1st Edition. The bouyant stock market environment of the past several years is gone, and the financial wreckage of 2008 is still sharp in our minds as a new year starts to unfold. Given the recent across-the-board-declines in global stock markets (and most asset classes) that have left many investors shell-shocked, you might wonder if there is any good reason to consider the merits of a hot new investment theme, such as clean energy. However, we shouldn't be too hasty to write off all future stock investments. After all, the market declines of 2008 may continue into 2009, but they may also leave interesting investment opportunities in their wake. Which brings us to the subject of this review. John Rubino, author and editor of GreenStockInvesting.com , recently released a new book on renewable energy and clean-tech investing entitled, Clean Money: Picking Winners in the Green Tech Boom . In Clean ...

Seth Klarman: Margin of Safety (pdf)

Welcome, readers! Signup for free email updates at the Finance Trends Newsletter . Update: PDF links removed due to DMCA notice. Please see our extensive Klarman book notes below. New visitors, please check the Finance Trends home page for all new posts. Here's something for anyone who has been trying to get a look at Seth Klarman's now famous, and out of print, 1991 investment book, Margin of Safety .  My knowledge of value investing is pretty much limited to what I've read in Ben Graham's The Intelligent Investor (the book which originally popularized the investment concept of a "Margin of Safety"), so check out the wisdom from Seth Klarman and other investing greats in our related posts below. You can also go straight to Ronald Redfield's Margin of Safety book notes .    Related posts: 1. Seth Klarman interviews and Margin of Safety notes     2. Seth Klarman: Lessons from 2008 3. Investing Lessons from Sir John Templeton 4. ...