The Carolina Journal interviewed economist Felix Livingston on the concept of honorable entrepreneurship. Livingston sees such entrepreneurs as strengthening the fabric of society and the rule of law.
Kokai: What do you mean by honorable entrepreneurship?
Livingston: Well, the concept of honorable entrepreneurship was inspired by Alexis de Tocqueville’s discussion of honor in his book Democracy in America. In that book he pointed out that groups, in order to advance their position in society, it makes sense for them to praise the actions of their members that strengthen the group, and to condemn the actions of members that undermine and weaken the group.
And so, in a sense, historically, conceptions of honor were sometimes in conflict with religious doctrine and written law. But honorable entrepreneurs as a group, entrepreneurial flourishing, is actually compatible with freedom, general prosperity, and the rule of law. And so that’s basically what it’s all about, is entrepreneurs who behave in such a way that strengthens the rule of law. Liberty and private property rights are honorable. And those entrepreneurs that engage in activities that undermine the rule of law — liberty — are dishonorable.