We may laud the market order as an indispensable arena for large-scale social cooperation, but let’s not forget that people cannot cooperate with one another if they don’t know that the potential for mutually beneficial exchanges exists.
Author: Sheldon Richman
Sheldon Richman is the Executive Editor of The Libertarian Institute. His latest book is America’s Counter-Revolution: The Constitution Revisited. Sheldon is also the author of Separating School & State: How to Liberate America’s Families, Your Money or Your Life: Why We Must Abolish the Income Tax, and Tethered Citizens: Time to Repeal the Welfare State.
The Minimum Wage Harms the Most Vulnerable
Crocodile tears are flowing again for low-income people. In his State of the Union address, President Obama proposed raising the minimum wage from $7.25 to $9 an hour. A debate is shaping up between those who support the proposal and those who favor keeping the wage where it is today. But there are good grounds — for the sake of the poor — to repeal the minimum wage altogether.
Government Undermines Social Cooperation
Here is the standard false alternative beloved by politicians seeking to justify their own violence-based power. The fallacy is clear when stated this way: Since individuals acting in isolation aren’t capable of doing many things they want done, government should take charge and see that they are done.
Intervention Begets Intervention
“Intervention is a limited order by a social authority forcing the owners of the means of production and entrepreneurs to employ their means in a different manner than they otherwise would.”
Individualist Collectivism
Is the free market an individualist or collectivist social arrangement? Don’t answer too quickly. It’s a trick question.
In Praise of Profit
In the last two weeks, I presented a defense of key libertarian concepts — the market, private property, and competition — in a way intended to make them palatable to people who believe in individual liberty yet have something like an aesthetic aversion to the market economy. Today let’s examine profit, another concept that has an unpleasant taste for some people who might otherwise be attracted to libertarianism.
The Virtues of Competition
Differing attitudes about market competition divide people needlessly. An appreciation of what competition makes possible could prepare the ground for a convergence between libertarians and those we might call latent libertarians, that is, those who value individual liberty but don’t yet see the market as its natural home.
Individualism, Collectivism, and Other Murky Labels
Imagine the following person. He believes all individuals should be free to do anything that’s peaceful and therefore favors private property, free global markets, freedom of contract, civil liberties, and all the related ideas that come under the label libertarianism (or liberalism). Obviously he is not a statist. But is he an individualist and a capitalist or a socialist and a collectivist?
Regulation Red Herring
Most people believe that government must regulate the marketplace. The only alternative to a regulated market, the thinking goes, is an unregulated market. On first glance that makes sense. It’s the law of excluded middle. A market is either regulated or it’s not.
Government is Force
Some pundits really don’t understand why libertarians dislike government and therefore want it to do little, if anything at all. Unable to grasp the reason, the pundits assign bad motives to those who disparage government: They don’t like poor people, or workers, or the sick, or education. But what’s so hard to understand?