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Fall 2004
ISSN 0890-913X
Volume 20, Number 1

Peter Bauer's Market-Liberal Vision

James A. Dorn, Cato Institute and Towson University
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PeterBauer=sMarket-LiberalVisionJamesA.DornCatoInstituteandTowsonUniversityBauerhasbeenaconsistentandcogentdefenderoftheroleofthemarketeconomyinbringingabouteconomicdevelopment.NoonehasdonemoreinclarifyingthereachofAdamSmith=sthesisregardingthecreativecontributionsofexchange.CAmartyaSen1ApioneerindevelopmenteconomicsAtatimewhenmainstreamdevelopmenteconomistswerepromotingstate-leddevelopmentplanningintheaftermathofWorldWarII,Peter(Lord)Bauerstoodfirminhisconvictionthatcomprehensivecentralplanning,protectionism,andforeignaidweredetrimentaltoeconomicdevelopment.Indeed,hereliedonfirsthandexperienceinMalaya,WestAfrica,andIndia,andonclassicalliberalprinciples,toreachhisconclusionthatlimitedgovernmentandeconomicfreedomaretheprerequisitesforincreasingindividualwelfare.PieterTamasBauerwasborninBudapestonNovember6,1915.HeearnedalawdegreeatBudapestUniversityandattendedGonvilleandCaiusCollegeatCambridgeUniversity,wherehestudiedeconomicsandlatertaught.MostofhisdistinguishedacademiccareerwasspentasaprofessorattheLondonSchoolofEconomics.In1982,hewasmadealifepeerwiththeappropriatetitleLordBauerofMarketWard.HewasafellowoftheBritishAcademy,amemberoftheMontPelerinSociety,andthefirstrecipientoftheMiltonFriedmanPrizeforAdvancingLiberty,a1Sen(2000:x).
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