A Libertarian Theory of Punishment and Rights
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Review of George Reisman's Capitalism
LIBERTARIAN PAPERS VOL. 1, ART. NO. 14 (2009) A TREATISE FOR A NEW AGE IN ECONOMIC THEORY: REVIEW OF GEORGE REISMAN’S CAPITALISM WLADIMIR KRAUS* CAPITALISM: A TREATISE ON ECONOMICS. By George Reisman. Ottawa, IL: Jameson Books, 1996. THE BOOK UNDER REVIEW, Capitalism: A Treatise on Economics,1 has been in print since 1996. Its enormous size and the vast array of topics covered suggest enormous scholarship and devotion. Its expressed purpose is a thorough integration of leading economic phenomena into one unified theory of the market process. Yet virtually no serious attention on the part of academic economists has been paid to its many highly original contributions and bold challenges to received orthodoxy. This review aims at a compressed presentation and analysis of some of the book’s main contributions to political economy, and hopes thereby to kick off a rigorous discussion of its substantive ideas. To put the extent of George Reisman’s intellectual achievement into a single sentence: for a full understanding of economic institutions of capitalism the reading and very careful studying of his Capitalism: A Treatise on Economics is absolutely essential. Nowhere will one find a clearer, more comprehensive, more rigorous, more persuasive and thus exactly for these reasons absolutely enthralling description and explanation of all leading economic institutions of capitalism. *Wladimir Kraus ([email protected]) is a PhD candidate in Institutions, Economics, and Law at IEL-International Programme in Institutions, Economics, and Law, Collegio Carlo Alberto, Italy. CITE THIS ARTICLE AS: Wladimir Kraus, “A Treatise for A New Age in Economic Theory: A Review of George Reisman’s Capitalism,” Libertarian Papers 1, 14 (2009). -
Markets Not Capitalism Explores the Gap Between Radically Freed Markets and the Capitalist-Controlled Markets That Prevail Today
individualist anarchism against bosses, inequality, corporate power, and structural poverty Edited by Gary Chartier & Charles W. Johnson Individualist anarchists believe in mutual exchange, not economic privilege. They believe in freed markets, not capitalism. They defend a distinctive response to the challenges of ending global capitalism and achieving social justice: eliminate the political privileges that prop up capitalists. Massive concentrations of wealth, rigid economic hierarchies, and unsustainable modes of production are not the results of the market form, but of markets deformed and rigged by a network of state-secured controls and privileges to the business class. Markets Not Capitalism explores the gap between radically freed markets and the capitalist-controlled markets that prevail today. It explains how liberating market exchange from state capitalist privilege can abolish structural poverty, help working people take control over the conditions of their labor, and redistribute wealth and social power. Featuring discussions of socialism, capitalism, markets, ownership, labor struggle, grassroots privatization, intellectual property, health care, racism, sexism, and environmental issues, this unique collection brings together classic essays by Cleyre, and such contemporary innovators as Kevin Carson and Roderick Long. It introduces an eye-opening approach to radical social thought, rooted equally in libertarian socialism and market anarchism. “We on the left need a good shake to get us thinking, and these arguments for market anarchism do the job in lively and thoughtful fashion.” – Alexander Cockburn, editor and publisher, Counterpunch “Anarchy is not chaos; nor is it violence. This rich and provocative gathering of essays by anarchists past and present imagines society unburdened by state, markets un-warped by capitalism. -
CAPITALISM a Treatise on Economics George Reisman
CAPITALISM CAPITALISM A Treatise on Economics Prepublication, Interim Edition George Reisman Jameson Books, Ottawa, Illinois Copyright © 1998, 1996, 1990 by George Reisman. All rights reserved. No part of this book may be reproduced in any manner without written permission, except in the case of brief quotations embodied in reviews. Mail order copies of this book may be purchased from the publisher by call- ing 800-426-1357. All inquiries should be addressed to Jameson Books, 722 Columbus St., Ottawa, IL 61350. (815)-434-7905. Fax: (815)-434-7907. Distributed to the book trade by MidPoint Trade Books. All returns to the MidPoint warehouse. Bookstores, please call 800-243-0138 to order. Photocopying of excerpts from Jameson Books editions are licensed through the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923. Call 508-750-8400 for information. ISBN: 0-915463-73-3 Library of Congress Catalogue Card Number: 96-78105 Manufactured in the United States of America 09 08 07 06 05 04 / 8 7 6 5 4 To Ludwig von Mises, my teacher, and Edith Packer, my wife. CONTENTS IN BRIEF PREFACE xxxix INTRODUCTION 1 PART ONE THE FOUNDATIONS OF ECONOMICS CHAPTER 1. ECONOMICS AND CAPITALISM 15 CHAPTER 2. WEALTH AND ITS ROLE IN HUMAN LIFE 39 CHAPTER 3. NATURAL RESOURCES AND THE ENVIRONMENT 63 PART TWO THE DIVISION OF LABOR AND CAPITALISM CHAPTER 4. THE DIVISION OF LABOR AND PRODUCTION 123 CHAPTER 5. THE DEPENDENCE OF THE DIVISION OF LABOR ON CAPITALISM I 135 CHAPTER 6. THE DEPENDENCE OF THE DIVISION OF LABOR ON CAPITALISM II: THE PRICE SYSTEM AND ECONOMIC COORDINATION 172 CHAPTER 7. -
Forestalling, Positive Obligations and the Lockean and Blockian Provisos: Rejoinder to Stephan Kinsella*
Ekonomia — Wroclaw Economic Review 22/3 (2016) Acta Universitatis Wratislaviensis No 3732 DOI: 10.19195/2084-4093.22.3.2 Walter E. Block Harold E. Wirth Eminent Scholar Endowed Chair and Professor of Economics [email protected] Joseph A. Butt S.J. College of Business Loyola University New Orleans Forestalling, Positive Obligations and the Lockean and Blockian Provisos: Rejoinder to Stephan Kinsella* JEL Classification: K19 Keywords: forestalling, positive obligations, Lockean proviso, Blockian proviso Abstract Forestalling, Positive Obligations and the Lockean and Blockian Provisos: Rejoinder to Stephan Kinsella The Blockian proviso mandates that no one precludes or forestalls anyone else in their land home- steading patterns such that they prevent them from homesteading virgin encircled land. Kinsella (2007, 2009A) takes issue with this position and likens it to the properly denigrated Lockean pro- viso. The present paper is an attempt to distinguish the two provisos one from the other, and defend the former from Kinsella’s critiques. What is the Lockean proviso? Let us allow “da man” to speak for himself on this issue. According to Locke (1689, emphasis added): “Though the earth, and all inferior creatures, be common to all men, yet every man has a property in his own person: this nobody has any right to but himself. The labour of his body, and the work of his hands, we may say, are properly his. Whatsoever then he removes out of the state that nature hath provided, and left it in, he hath mixed his labour with, and joined to it something that is his own, and thereby makes it his property. -
Judith Jarvis Thomson on Abortion; a Libertarian Perspective
DePaul Journal of Health Care Law Volume 19 Issue 1 Fall 2017 Article 3 April 2018 Judith Jarvis Thomson on Abortion; a Libertarian Perspective Walter E. Block Loyola University New Orleans, [email protected] Follow this and additional works at: https://via.library.depaul.edu/jhcl Part of the Health Law and Policy Commons Recommended Citation Walter E. Block, Judith Jarvis Thomson on Abortion; a Libertarian Perspective, 19 DePaul J. Health Care L. (2018) Available at: https://via.library.depaul.edu/jhcl/vol19/iss1/3 This Article is brought to you for free and open access by the College of Law at Via Sapientiae. It has been accepted for inclusion in DePaul Journal of Health Care Law by an authorized editor of Via Sapientiae. For more information, please contact [email protected]. Judith Jarvis Thomson on abortion; a libertarian perspective1 I. Introduction Abortion is one of the most vexing issues faced by society. On the one hand, there are those who favor the pro-choice position. In their view, the woman, and she alone (along with the advice of her doctor – but the final decision must be hers), should be able to legally determine on what basis, and whether, her pregnancy should be conducted. She should be as free to end her pregnancy at any stage of the development of her fetus, or give birth to it after the usual term of nine months. On the other hand, there are those who favor what is called the pro-life position. In this perspective, the fetus, from the moment of conception, is a full rights-bearing human being. -
Law and Economics ECON B330-001 Fall 2021 (August 23 – December 17)
Law and Economics ECON B330-001 Fall 2021 (August 23 – December 17) Class hours: Monday, Wednesday, Friday from 12:30-1:20 p.m. Course Location: MI 208 Instructor: Dr. Walter E. Block Office Location: Miller Hall 318 Phone: (504) 864-7934 Email: [email protected] Office hours: Wednesday: 2:00 p.m. - 5:00 p.m. In addition to these formal office hours, I will be available most days of the week. If by odd chance none of these hours are convenient, a mutually agreeable appointment can always be made. I am very available for student consultation and willing to give as much time as is needed for questions, discussion, dialogue. Terms of Use A student's continued enrollment in this course signifies acknowledgment of and agreement with the statements, disclaimers, policies, and procedures outlined within this syllabus and elsewhere in the Canvas environment. This Syllabus is a dynamic document. Elements of the course structure (e.g., dates and topics covered, but not policies) may be changed at the discretion of the professor. College of Business Mission Statement The mission of the Loyola College of Business is to educate and empower ethical innovators who work with and for others to solve local and global problems. We teach conceptual, technical, and professional skills through engaging experiences that leverage New Orleans’ community and creative spirit. Course Description This course is an economic analysis used to consider the effects of legal rules upon people’s actions. Alternative rules are considered, with particular attention paid to the differing effects each is likely to have on the structure of incentives, and thus on human actions. -
A Response to the Libertarian Critics of Open-Borders Libertarianism
LINCOLN MEMORIAL UNIVERSITY LAW REVIEW __________________________________ VOLUME 4 FALL 2016 ISSUE 1 ____________________________________ A RESPONSE TO THE LIBERTARIAN CRITICS OF OPEN-BORDERS LIBERTARIANISM Walter E. Block, Ph.D. Harold E. Wirth Eminent Scholar Endowed Chair and Professor of Economics Joseph A. Butt, S.J. College of Business I. INTRODUCTION Libertarians may be unique in many regards, but their views on immigration do not qualify. They are as divided as is the rest of the population on this issue. Some favor open borders, and others oppose such a legal milieu. The present paper may be placed in the former category. It will outline both sides of this debate in sections II and III. Section IV is devoted to some additional arrows in the quiver of the closed border libertarians, and to a refutation of them. We conclude in section V. A RESPONSE TO THE LIBERTARIAN CRITICS OF OPEN-BORDERS LIBERTARIANISM 143 II. ANTI OPEN BORDERS The libertarian opposition to free immigration is straightforward and even elegant.1 It notes, first, a curious bifurcation in international economic relations. In the case of both trade and investment, there must necessarily be two2 parties who agree to the commercial interaction. In the former case, there must be an importer and an exporter; both are necessary. Without the consent of both parties, the transaction cannot take place. A similar situation arises concerning foreign investment. The entrepreneur who wishes to set up shop abroad must obtain the willing acquiescence of the domestic partner for the purchase of land and raw materials. And the same occurs with financial transactions that take place across 1 Peter Brimelow, ALIEN NATION: COMMON SENSE ABOUT AMERICA’S IMMIGRATION DISASTER (1995); Jesús Huerta De Soto, A Libertarian Theory of Free Immigration, 13 J. -
White, Right and Libertarian
WHITE, RIGHT, AND LIBERTARIAN Chase Rachels Copyright © 2018 Christopher Chase Rachels All rights reserved. ISBN-13: 978-1979796521 ISBN-10: 1979796521 CONTENTS Foreword by Hans-Hermann Hoppe ...............................v Chapter I: What Anarcho-Capitalism Is ............................1 Chapter II: The Libertarian Case Against Open Borders ............11 Chapter III: For A “Libertarian Alt-Right” .........................35 Suggestions For Further Reading ..................................79 Appendix: Clearing Up The Hoppe Foreword Controversy ..........87 iii FOREWORD The social theory sailing nowadays under the label “Austro-Liber- tarianism” has a long and prominent history going back many centuries, culminating during the second half of the 20th century in the work of Murray N. Rothbard, and continued today by his various intellectual disciples and students (including myself ). The theory provides a simple, argumentatively irrefutable (without running into contradictions) answer to one of the most important questions in the entire field of the social sciences: How can human beings, “real persons,” having to act in a “real world” characterized by the scarcity of all sorts of physical things, interact with each other, conceivably from the beginning of mankind until the end of human history, peacefully, i.e., without physically clash- ing with one another in a contest or fight concerning the control of one and the same given thing? Put briefly, the answer is this: Absent a perfect harmony of all inter- ests, clashes regarding scarce resources can only be avoided if all scarce resources are assigned as private, exclusive property to some specified individual or group of individuals. Only then can I act independently, with my own things, from you, with your own things, without you and I ever clashing. -
Liberty, Property and Rationality
Liberty, Property and Rationality Concept of Freedom in Murray Rothbard’s Anarcho-capitalism Master’s Thesis Hannu Hästbacka 13.11.2018 University of Helsinki Faculty of Arts General History Tiedekunta/Osasto – Fakultet/Sektion – Faculty Laitos – Institution – Department Humanistinen tiedekunta Filosofian, historian, kulttuurin ja taiteiden tutkimuksen laitos Tekijä – Författare – Author Hannu Hästbacka Työn nimi – Arbetets titel – Title Liberty, Property and Rationality. Concept of Freedom in Murray Rothbard’s Anarcho-capitalism Oppiaine – Läroämne – Subject Yleinen historia Työn laji – Arbetets art – Level Aika – Datum – Month and Sivumäärä– Sidoantal – Number of pages Pro gradu -tutkielma year 100 13.11.2018 Tiivistelmä – Referat – Abstract Murray Rothbard (1926–1995) on yksi keskeisimmistä modernin libertarismin taustalla olevista ajattelijoista. Rothbard pitää yksilöllistä vapautta keskeisimpänä periaatteenaan, ja yhdistää filosofiassaan klassisen liberalismin perinnettä itävaltalaiseen taloustieteeseen, teleologiseen luonnonoikeusajatteluun sekä individualistiseen anarkismiin. Hänen tavoitteenaan on kehittää puhtaaseen järkeen pohjautuva oikeusoppi, jonka pohjalta voidaan perustaa vapaiden markkinoiden ihanneyhteiskunta. Valtiota ei täten Rothbardin ihanneyhteiskunnassa ole, vaan vastuu yksilöllisten luonnonoikeuksien toteutumisesta on kokonaan yksilöllä itsellään. Tutkin työssäni vapauden käsitettä Rothbardin anarko-kapitalistisessa filosofiassa. Selvitän ja analysoin Rothbardin ajattelun keskeisimpiä elementtejä niiden filosofisissa, -
Introduction 1 Money, Banking, and Inflation
Notes Introduction 1. Murray N. Rothbard, The Panic of 1819: Reactions and Policies (New York: Columbia University Press, 1962). 1 Money, Banking, and Inflation 1. Brian Simpson, “Money, Banking, and the Business Cycle,” audio recording (Irvine, CA: Second Renaissance, Inc., 2005) and Brian P. Simpson, Trade Cycle Theory: A Market Process Perspective (Ann Arbor, MI: Bell & Howell Information and Learning Company, 2000), pp. 78–79. 2. George Reisman, Capitalism: A Treatise on Economics (Ottawa, IL: Jameson Books, 1996), pp. 512–513. 3. See Chapter 4 of Brian P. Simpson, Money, Banking, and the Business Cycle, Volume 2: Remedies and Alternative Theories (New York: Palgrave Macmillan, 2014) for a discussion of this topic. 4. Lawrence H. White, “A Subjectivist Perspective on the Definition and Identification of Money,” in Israel M. Kirzner, ed., Subjectivism, Intelligibility and Economic Understanding (Washington Square: New York University Press, 1986), pp. 301– 314. See in particular pp. 310–311. 5. I ignore the existence of fractional-reserve banking here. The creation of money through credit-card loans under fractional-reserve banking (to the extent that it occurs) is not particular to credit-card loans. It is true of all loans made through the fractional- reserve process and thus is not a phenomenon of credit-card loans but of fractional- reserve banking. Fractional-reserve banking is discussed below in this chapter and in Chapter 4 of Simpson, Money, Banking, and the Business Cycle, Volume 2. 6. See Steven J. Pilloff, “Money Market Mutual Funds: Are They a Close Substitute for Accounts at Insured Depository Institutions?” The Antitrust Bulletin vol. -
How to Cite Complete Issue More Information About This Article
MISES: Interdisciplinary Journal of Philosophy Law and Economics ISSN: 2318-0811 ISSN: 2594-9187 Instituto Ludwig von Mises - Brasil Kaesemodel, Gustavo Poletti Self-Ownership and the Libertarian Ethic MISES: Interdisciplinary Journal of Philosophy Law and Economics, vol. 6, no. 1, 02, 2018, January-March Instituto Ludwig von Mises - Brasil DOI: 10.30800/mises.2018.v6.113 Available in: http://www.redalyc.org/articulo.oa?id=586364160002 How to cite Complete issue Scientific Information System Redalyc More information about this article Network of Scientific Journals from Latin America and the Caribbean, Spain and Journal's webpage in redalyc.org Portugal Project academic non-profit, developed under the open access initiative Disponível em www.misesjournal.org.br MISES: Interdiscip. J. of Philos. Law and Econ, São Paulo, 2018; 6 (1) e-ISSN 2594-9187 Self-Ownership and the Libertarian Ethic Autopropriedade e a Ética Libertária Autopropiedad y la Ética Libertaria Gustavo Poletti Kaesemodel – Centro Universitário Ítalo Brasileiro – [email protected] Palavras-chave: RESUMO Autopropriedade; libertarianismo; ética; O conceito de autopropriedade está intrinsecamente relacionado ao conceito de liberdade individual e é pedra moral; direitos; liberdade fundamental da ética libertária. Em tempos em que as liberdades individuais são constantemente violadas por individual. legislações positivistas, este trabalho tem como objetivo demonstrar os fundamentos da ética libertária, a sua evolução ao longo dos últimos 50 anos e os motivos que a tornam uma ferramenta importante na proteção destes direitos. Analisados os principais conceitos e fundamentos, a ética libertária é colocada à prova das principais críticas que foram feitas ao longo do tempo,ilustrando como elas contribuíram para o seu desenvolvimento e quais pontos ainda não foram completamente explorados ou validados. -
The Jefferson School of Philosophy
The Jefferson School of Philosophy. F.conomics. aod Psychology announces a summer conference THE INTELLECTUAL FOUNDATIONS OF A FREE SOCIETY VI to be held at the Clarion Hotel, San Francisco Alrpod, August 1 - 15, 1993 The Jefferson School has been created to advance and dissemin'1e the Jlhilosophical and scientific knowledge that is nec;essary to the existtnce of a flee society. Accordingly, the School's primary mission is the further development, application, and teaching of the 1deu of the pto-:r~ pro-individualist phil,010phers and the pro-freedom, pro-capitalist economists, and of compatible ideu in the field of psychology. ~ of 1t1 activities and programs feature the relevant doctrines of Objectivist and Aristotelian philosophy and of "Austrian" and Classical econorrucs. PRF.SmBNT . ~-- .J ---- VICB--PRESIDE:N'f-----'---~-ooNFERENeE COORDINAreR- George Reisman, Ph.D. Edith Packer, I.D., Ph.D. Diane LeMont, M.A. THE CORE PROGRAM: Thirty-three and a half hours of instruction Leonard Pelkoff, Seven Great Plays a, Philosophy and a, LHerature (seven two-hour Nlllona and one hour-and-a-half INllon devoted entirely to questions and answers) This course is a unique exercise in two skills: philosophic detection and rational esthetic judgment Dr. Peikoff analyus seven great plays from ancient Greece to the 20th Century (works by Sophocles, Shakespeare, Corneille, Schiller, Ibsen, Shaw and-a favorite of Ayn Rand's-Maeterlinck's Morma Vanna). In each case, he sho~s how to discover the essence of the Splot and the motivation of the central characters. He then demonstrates how to identify a play's th~e and deeper abstract meaning.