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Of babies and South Sea bubbles


Brits are the first to conquer infant mortality. By 1820 medical progress has so transformed life in Britain that half the population is under the age of fifteen. Over several centuries, more than 20 million Brits leave, and settle all over the globe.

Freeborn, they believe in freedom, self-reliance, caring, voluntary associations of friends and neighbours, the rule of just law, their house as their castle, the right to protect their kids, the right and responsibility to bear arms, limited, representative government that shields their freedoms, a loving God who gives them life in the light of the eternal, and the thrilling opportunity to pursue their happiness.

They fiercely guarded their independence of action. They did not want to live in a nanny state. As we show in Liberty’s Timeline, they figured out the dangers of welfare – particularly for the people that welfare was supposed to help. They had more effective, more imaginative ways of helping those in need.

They never walked a road that held out the mirage of “the state” taking care of everybody. They liked taking care of themselves and helping each other. Inventive, with dependable common sense, they would have looked at modern welfare and retirement benefits, done the basic computations, and realized that the state was promising a South Sea bubble, known today as a Ponzi scheme: good for a few; not good for many.

At their best, they liked the long view. They thought about how their grandchildren would live.