Peter Robinson: Our intellectual-in-chief, Barack Obama, got his BA from Columbia, his JD from Harvard, he taught for a number of years at the Univer… - Thomas Sowell

"A mere enumeration of government activity is evidence — often the sole evidence offered — of "inadequate" nongovernment institutions, whose "inability" to cope with problems "obviously" required state intervention. Government is depicted as acting not in response to its own political incentives and constraints but because it is compelled to do so by concern for the public interest: it "cannot keep its hands off" when so "much is at stake," when emergency "compels" it to supersede other decision making processes. Such a tableau simple ignores the possibility that there are political incentives for the production and distribution of "emergencies" to justify expansions of power as well as to use episodic emergencies as a reason for creating enduring government institutions."

What socialism, fascism and other ideologies of the left have in common is an assumption that some very wise people—like themselves—need to take decisions out of the hands of lesser people, like the rest of us, and impose those decisions by government fiat.

Although Adam Smith is today often regarded as a “conservative” figure, he in fact attacked some of the dominant ideas and interests of his own times. Moreover, the idea of a spontaneously self-equilibrating system — the market economy — first developed by the Physiocrats and later made part of the tradition of classical economics by Adam Smith, represented a radically new departure, not only in analysis of social causation but also in seeing a reduced role for political, intellectual, or other elites as guides or controllers of the masses.