In the first half of the 1970s, two books appeared which have subsequently been regarded as major works in political philosophy: John Rawls's A Theory of Justice, and Robert Nozick's Anarchy, State, and Utopia. Economists have devoted a considerable amount of ink to commentary, pro and con, on A Theory of Justice; and it is getting to be a rare public finance textbook that does not, in its discussion of governmental redistribution, describe the Kantian contract made behind the veil of (...) ignorance. On the other hand, while Nozick has not exactly been ignored, economists have not joined the debate over Anarchy, State, and Utopia with the same gusto. When economists have joined the debate, their concern has been, more often than not, with Nozick's entitlement theory of distributive justice, as is the case with Varian and Sen. What is largely missing, then, is any economic analysis of the processes that give rise to Nozick's morally legitimate state, which he calls the minimal state, and the characteristics and likely activities of the minimal state within the moral boundaries set by Nozick, his assertions to the contrary notwithstanding. (shrink)

In fact, it requires two major social institutions--morality and government--working in a coordinated fashion to do so. This is one of the main themes of Hobbes's philosophy that will be developed in this book.

A major point of dispute among libertarian theorists and thinkers today as always revolves around the age—old question of whether man can live in total anarchy or whether the minimal state is absolutely necessary for the maximization of freedom. Lost in this dispute is the question of whether man is capable of getting out of anarchy at all. Can we really abolish anarchy and set up a Government in its place? Most people, regardless of their ideological preferences, simply assume that (...) the abolition of anarchy is possible, that they live under Government and that anarchy would be nothing but chaos and violence}. (shrink)

Capitalism is the best. It's free enterprise. Barter. Gimbels, if I get really rank with the clerk, 'Well I don't like this', how I can resolve it? If it really gets ridiculous, I go, 'Frig it, man, I walk.' What can this guy do at Gimbels, even if he was the president of Gimbels? He can always reject me from that store, but I can always go to Macy's. He can't really hurt me. Communism is like one big phone company. (...) Government control, man. And if I get too rank with that phone company, where can I go? I'll end up like a schmuck with a dixie cup on a thread. (shrink)

Employing the techniques of modern economic analysis, Professor Buchanan reveals the conceptual basis of an individual's social rights by examining the ...