Relationships in liberal theory between liberty and economic well‐being are empirical propositions: (a) economic conditions can reach a level so low as to make the effective establishment of liberty impossible; (b) the marginal value of economic gain diminishes with respect to the value of liberty as economic conditions improve; and (c) the priority standing of liberty requires the development of social forms and conditions necessary for the establishment of liberty. Empirical data, however, do not support these assumptions. A more complex relationship between liberty and economic well‐being is suggested, where (a) liberty is needed as a first condition to increase economic well‐being, and (b) the very distinction between political values like liberty and economic values is jeopardized. A fusion of politics and economics may be required to account for these relationships, a point re‐emphasizing the sensitivity of normative theory to empirical evidence.
|Original language||English (US)|
|Number of pages||15|
|State||Published - 1983|
ASJC Scopus subject areas
- Sociology and Political Science