Classical Liberalism ≠ Libertarianism, Vol. 2

Corey Robin

Antoine Louis Claude Destutt de Tracy, A Treatise on Political Economy (1817):

The truly sterile class is that of the idle, who do nothing but live, nobly as it is termed, on the products of labours executed before their time, whether these products are realised in landed estates which they lease, that is to say which they hire to a labourer, or that they consist in money or effects which they lend for a premium, which is still a hireling.—These are the true drones of the hive…

Luxury, exaggerated and superfluous consumption, is therefore never good for any thing, economically speaking. It can only have an indirect utility. Which is by ruining the rich, to take from the hands of idle men those funds which, being distributed amongst those who labour, may enable them to economise, and thus form capitals in the industrious class.

Friedrich Hayek, The Constitution of…

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