Libertarian arguments about the empirical benefits of capitalism are, as yet, inadequate to convince anyone who lacks libertarian philosophical convictions. Yet “philosophical” libertarianism founders on internal contradictions that render it unfit to make libertarians out of anyone who does not have strong consequentialist reasons for libertarian belief. The joint failure of these two approaches to libertarianism explains why they are both present in orthodox libertarianism—they hide each other's weaknesses, thereby perpetuating them. Libertarianism retains significant potential for illuminating the modern world (...) because of its distance from mainstream intellectual assumptions. But this potential will remain unfulfilled until its ideological superstructure is dismantled. (shrink)

If one values freedom, what sort of regime of property should one favor: libertarianism, socialism, or something else again? Debate on this topic has been hampered by a failure to distinguish freedom and liberty, which are both of great value, but can come into conflict. Furthermore there are many similar concepts—distinct from both liberty and freedom, yet each representing something we rightly value—which may also come into conflict with each other and with freedom and liberty. Consequently the question posed above (...) has no easy answer. (shrink)

In this book G. A. Cohen examines the libertarian principle of self-ownership, which says that each person belongs to himself and therefore owes no service or product to anyone else. This principle is used to defend capitalist inequality, which is said to reflect each person's freedom to do as as he wishes with himself. The author argues that self-ownership cannot deliver the freedom it promises to secure, thereby undermining the idea that lovers of freedom should embrace capitalism and the inequality (...) that comes with it. He goes on to show that the standard Marxist condemnation of exploitation implies an endorsement of self-ownership, since, in the Marxist conception, the employer steals from the worker what should belong to her, because she produced it. Thereby a deeply inegalitarian notion has penetrated what is in aspiration an egalitarian theory. Purging that notion from socialist thought, he argues, enables construction of a more consistent egalitarianism. (shrink)

There is a world-wide debate at the moment about the appropriate role for the state in modern societies in the light of the world financial crisis. This book provides a comprehensive analysis and critique of Neo-liberal or economic liberal ideas on this issue.