ABSTRACT
Economists have wrongly assumed that Max U, to use Deirdre McCloskeys amusing play on words, personifies economic agents, that is individuals making choices guided by economic competition and constrained by property rights. While political philosophers have long argued that the liberal order is not merely utilitarian, economists are now beginning to acknowledge that market processes also depend on a set of institutions and practices that are structured by a wider range of motivations and norms than a narrowly construed notion of self-interest. As Gregg points out, Tocqueville had voiced in an earlier era; and he aptly remarks that Tocqueville was not fooled by the rhetoric of self-interest in America, for often it is used as a veil for actually engaging in philanthropic and other socially constructive enterprises. It is remarkable that the narratives presented by Chamlee-Wright and Storr pay so little attention to state authorities.
