Externalities

A number of writers have drawn on Hayek’s epistemic defence of market institutions to argue that free-markets and tort law are best placed to overcome the knowledge problems associated with the environmental sphere. This paper argues to the contrary, that this Austrian School approach itself suffers from significant knowledge problems. The first of these relates to the ability of Austrian economics to assign victim compensation and the second to the difficulty of establishing causation in complex environmental problems. The paper will (...) also show how alternative approaches may not suffer from these epistemic challenges and are better placed to overcome them. (shrink)

Joseph Newhard (2017) argues that a libertarian anarchist society would be at a serious military disadvantage if it extended the nonaggression principle to include potential foreign invaders. He goes so far as to recommend cultivating the ability to launch a nuclear attack on foreign cities. In contrast, I argue that the free society would derive its strength from a total commitment to property rights and the protection of innocent life. Both theory and history suggest that a free society would be (...) capable of defending itself, and indeed that it would probably use other means to avoid military conflict altogether. (shrink)

This essay offers a standard by which to assess the feasibility of market anarchism. In anarchist thought, the concept of feasibility concerns both the ability and the willingness of private defense agencies to liberate their clients from state oppression. I argue that the emergence of a single stateless pocket of effective, privately-provided defense for a “reasonable” length of time is sufficient to affirm feasibility. I then consider the failure of private defense agencies to achieve even this standard. Furthermore, I identify (...) five possible explanations for the conspicuous absence of private defense agencies. These explanations are entrepreneurial, technological, or economic in nature, or result from a lack of consumer demand or a lack of incentive for violence specialists to refrain from aggression. Of these, only an economic deficiency renders anarchism intrinsically unworkable. (shrink)

In Escape from Leviathan, Jan Lester sets out a conception of liberty as absence of imposed cost which, he says, advances no moral claim and does not premise an assignm..