Louis XIV had hundreds of servants who prepared him dinner. Today, my supermarket offers me a buffet Louis XIV couldn’t imagine. Thanks to trade and property rights and markets, each of us lives as if we had more servants than kings. We also live longer.
The war on marijuana may not be over, but marijuana is clearly going to win it. The only question is how many more victims Joe Biden and Kamala Harris will have abducted and put in cages (or killed) before America recovers from its chronic case of reefer madness.
Record-Keeping Technology People have been making records as long as they have been writing. Money serves as a unit of account, which makes the consistent tracking of finances and business …
People hate America’s big disparities in wealth. It’s a reason why, among young people, socialism is as popular as capitalism. The Democratic Socialists of America want a country based on “freedom, equality and solidarity.” That sure sounds good. But does socialism bring that?
This episode features a lecture by economics and law professor Peter Leeson from 2016. Leeson uses rational choice theory to explore the benefits of self-governance. Relying on experience from the past and present, Professor Leeson provides evidence of anarchy ‘working’ where it is least expected to do so and explains how this is possible. Provocatively, Leeson argues that in some cases anarchy may even outperform government as a system of social organization, and demonstrates where this may occur.
Let’s face it. There is no single stroke of governance that will make the homeless campers of Austin, TX go away. You cannot put toothpaste back in a tube.
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We offer them anarchy, thinking we are offering an orderly society without imposed government and with an opportunity to choose whatever type of governance suits them best — one size or type need not fit all.
I have often heard people charge libertarian anarchists with being irresponsible for wishing to get rid of the current system of government and replace it with genuine self-governance. It’s as if — however difficult it may be to believe — these critics actually believe that rulers in the current setup are responsible.
The economic analysis of politics goes by many names: political economy, rational choice theory, formal political theory, social choice, economics of governance, endogenous policy theory, and public choice. Each of these labels picks out a subtly different intellectual tradition. Each tradition expands our understanding of the world. My favorite, though, remains public choice.