we have had to the present day two different traditions in the theory of liberty: one empirical and unsystematic, the other speculative and rationalistic –the first based on an interpretation of traditions and institutions which had spontaneously grown up and were but imperfectly understood,Compare with Hamilton:the second aiming at the construction of a utopia, which has often been tried but never successfully. Nevertheless, it has been the rationalistic, plausible, and apparently logical argument of the French tradition, with its flattering assumptions about the unlimited powers of human reason, that has progressively gained influence, while the less articulate and less explicit tradition of English freedom has been on the decline.
“The republican principle demands that the deliberate sense of the community should govern the conduct of those to whom they intrust the management of their affairs; but it does not require an unqualified complaisance to every sudden breeze of passion or to every transient impulse which the people may receive from the arts of men, who flatter their prejudices to betray their interests.”. . . and also with Adam Smith:The natural disposition is always to believe. It is acquired wisdom and experience only that teach incredulity, and they very seldom teach it enough. The wisest and most cautious of us all frequently gives credit to stories which he himself is afterwards both ashamed and astonished that he could possibly think of believing. - Adam Smith, Theory of Moral Sentiments
The Adam Smith Theory of Moral Sentiments is so much better but denser than the Wealth of Nations.
I have been trying to digest it for many years and can only do a small part at a time.
By the way, Obama has decided that Hamilton has to go. We should now quote Sanger or Sacajewea.