“In light of Marx’s words, it’s worth exploring ‘the historical development of this class struggle’ as seen from the perspective of the classical liberals. At first this analysis of class may seem paradoxical. Free-market advocates have long emphasized that trade brings increasingly elaborate forms social cooperation through the division of labor and free exchange. As Ludwig von Mises pointed out, the realization that specialization and trade allow unlimited mutual benefits induces people to put aside their differences and to cooperate in the productive process. How could the classical liberals of the early nineteenth century have been interested in class struggle . . .?”
Introduced July 2014.