Commerce, Culture, and Diversity: Some Friedmanesque Themes in Trade and the Arts

reedom and prosperity stand as the two central themes of Milton Fried-man's political writings. Rather than offering either a " rights/liberty " defense of capitalism or a " utilitarian " defense, Friedman sought to identify the numerous cases where the two motivations coincide. Much of his analysis of markets has attempted to show this broader consilience or compatibility of values. I wish to pursue this theme of consilience in more detail. Specifically, what other values might capitalism bring? Might markets and trade be the best means of encouraging the creative arts? Friedman's works contain few explicit references to the creative arts (I survey some examples further below). Yet when it comes to the arts, in comparative terms capitalism and its accompanying wealth and liberties do the best job in delivering the goods. Friedman recognized this fact, albeit briefly and in passing. In his essay on why Jews are skeptical about capitalism, he wrote eloquently: " If, like me, you regard competitive capitalism as the economic system that is most favorable to individual freedom, to creative accomplishments in technology and the arts, and to the widest possible opportunities for the ordinary man, then you will regard Sombart's assignment to the Jews of a key role in the development of capitalism as high praise. " 1 I will follow this theme of capitalism and the arts, with special reference to Friedman's works. Friedman himself never made an aesthetic case for a market economy, above and beyond his liberty and utilitarian arguments. Such an aesthetic case remains underexplored, but Friedman's writings offer some useful tips for broadening our understanding of trade into the cultural dimension. Similarly, a look at the arts can strengthen Friedman's overall case for free trade and globalization. Friedman has led a long crusade on behalf of economic globalization, from a classical liberal and cosmopolitan point of view. He has