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Prof. Victor Menaldo on Divided We Fall site, "In Defense of the Marketplace of Ideas"

Submitted by Stephen Dunne on June 29, 2021 - 11:48am

Prof. Victor Menaldo on the news publication web site Divided We Fall, "In Defense of the Marketplace of Ideas", argues for open competition of ideas:

University and college campuses are often the setting for controversial debates on free speech with left-leaning actors.Professors whose views on race or gender are at odds with progressive politics have faced the prospect of being disciplined, students have been suspended from sports teams over hateful comments on social media, and quoting a racial slur while reading a legal case has led to stringent speech policies.

Free speech is not only critical to shrinking the gap between rich and poor countries — the former located at the technological frontier and the latter reliant on access to the ideas, ability,and techniques that they sometimes take for granted— but also to reducing inequalities between citizens within countries. The most important cause of income inequality and social stratification is the hoarding of information and knowledge at the top of the distribution. When individuals are free and able to acquire the education and skills that complement new technologies, they unlock their potential and bolster their productivity. This allows them to earn higher wages and enjoy other opportunities to generate income, such as receiving royalties from inventions or generating profits from making good investment decisions.

Please link here for the full article.