One so-called paradox of blackmail concerns the fact that “two legal whites together make a black.” That is, it is licit to threaten to reveal a person’s secret, and it is separately lawful to ask him for money; but when both are undertaken at once, together, this act iscalled blackmail and is prohibited. A second so-called paradox is that if the blackmailer initiates the act, this is seen by jurists asblackmail and illicit, while if the blackmailee (the person blackmailed) originates (...) the contract, this is commonly interpreted as bribery and is not illicit.But these are paradoxes only for legal theorists innocent of libertarian theory. The authors use that perspective to reject the claim thatblackmail should be unlawful. If this act were legalized, then both paradoxes would disappear, precisely their contention. (shrink)

The arguments for redistribution of wealth, and for prohibiting certain transactions such as price-gouging, both are based in mistaken conceptions of exchange. This paper proposes a neologism, “euvoluntary” exchange, meaning both that the exchange is truly voluntary and that it benefits both parties to the transaction. The argument has two parts: First, all euvoluntary exchanges should be permitted, and there is no justification for redistribution of wealth if disparities result only from euvoluntary exchanges. Second, even exchanges that are not euvoluntary (...) should generally be permitted, because access to market exchange may be the only means by which people in desperate circumstances can improve their position. (shrink)

There is no right to blackmail. So says the law and so say most moral observers. A few libertarian voices have been raised in defence of blackmail but such a defence is liable to be treated as a reductio of the defender's own free market philosophy. However, it is surprisingly difficult to say just what is wrong with blackmail.