A Little More Liberty: What the JEL Omits in Its Account of What the Economic Report of the President Omits

The classical liberal character of economics emerged in the eighteenth century, notably with Adam Smith’s view that politics is prone to an under-appreciation the relative virtues of natural liberty. Smith centered political economy on the presumption of liberty. The Journal of Economic Literature published a review of The Economic Report of the President. Five authors writing separately raised numerous omissions in The Economic Report of the President. The authors do not suggest as worthy reform a single ERP-omitted potential liberalization. The review shows little trace of the Smithian character.