Let us see what the basic institutions of the market economy are. We may subdivide them for convenience of discussion into (1) private property, (2) free markets, (3) competition, (4) division and combination of labor, and (5) social cooperation. As we shall see, these are not separate institutions. They are mutually dependent: each implies the other, and makes it possible.
Tag: property
A Hitchhiker’s Guide to Libertarian Infighting
One of the first things people realize upon becoming acquainted with libertarianism is how much libertarians fight amongst themselves about questions that seem highly esoteric and about which very few normal people would care. Esoteric though they may be, understanding these questions is central to understanding why we libertarians believe what we do.
Thanksgiving Was a Triumph of Capitalism over Collectivism
This time of the year, whether in good economic times or bad, is when we gather with our family and friends and enjoy a Thanksgiving meal together. It marks a remembrance of those early Pilgrim Fathers who crossed the uncharted ocean from Europe to make a new start in Plymouth, Massachusetts. What is less appreciated is that Thanksgiving also is a celebration of the birth of free enterprise in America.
Are Leftists Just Opposed to Work?
Don’t get me wrong, I don’t care for work either, other than writing the occasional obscure blog post, but with a preferred property rule centered on the idea that they may take what belongs to others, that would seem to suggest a major opposition to working themselves for the resources they need.
Leftist’s Preferred Property Rule
For some it’s ethical, for others it’s consequential, but the preferred property rule of all leftists, from the government-loving social democrats and progressives to the anti-state anarcho-communists (et al), seems to me (and I could be wrong) to be that if you need something that someone else has (and doesn’t need), you should get it, by any means necessary.
Immigration Controls Are Socialist
The liberal thinkers of the 19th century got a few things wrong, but they were steadfast in their defense of a free market in labor. They upheld freedom of migration as an axiomatic principle, as Stolper put it. They won the argument. And they lived in a time of unprecedented peace and economic growth.
Maybe Anarchism is Capitalism and Communism
Maybe anarchism, the political philosophy of rulerless society, is capitalism and communism. Hear me out.
Why Would Anyone Want a President?
Apart from employees of the executive branch, or active-duty members of the military who have been called into service by Congress, no American really has a “president.” The office was intended to be peripheral to the daily concerns of Americans, rather than the central focus of their existence. What a wonderful thing it would be if Americans of all persuasions adopted the motto “Not My President” – and then learned to regard the state itself with the proper mixture of hostility and contempt.
Voluntaryism – Don’t Tread On Anyone
If free people do nothing to fight for the freedom of everyone, then all will soon be enslaved. If those with even a modicum of freedom do not fight for every last inch they can gain back from the perilous grasp of tyranny, then tyranny will reign over all.
The Trouble With Politics
Politics is of its very nature is biased in favor of intervention and planning. Even in its “minarchist” or “night-watchman” version, politics is based at root on the idea that some decisions must be made coercively and imposed on unwilling minorities – or even majorities, as the case may be. This is contrary to the principle we observe in private life every day: the consent of both parties is necessary for a transaction to take place.