Pro-business or Pro-market?

Written by wheylous for The Voluntaryist Reader.

One of the main concerns curious people have about libertarianism is that it is pro-business and pro-Big Business. If it ain’t multinational, it ain’t capitalism! But is being pro-market inherently the same as being pro-business? Do libertarians really love large corporations? These are questions that are often ignored, but are central to the discussion of economics.

So what do the questions mean? Isn’t being pro-market the same as being pro-business? In fact, the answer is a surprising “no.” To understand why this is the case, we need to understand the concept of corporatism as opposed to that of free markets. Free markets and libertarianism are about property rights and the freedom of choice that arises from those property rights. Corporatism, as we shall see, is the negation of both of these principles.
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