Mises Search

Block says he was a pinko commie type at 22 who believed that laissez-faire capitalism would result in mass starvation. Then, he met Ayn Rand and read Atlas Shrugged and Economics in One Lesson. Block says libertarianism is the non-aggression principle. Keep your mitts to yourself. Libertarianism only asks that law incorporate the non-aggression

Minimum wage laws are not only counterproductive, but they make situations worse. All voluntary mutual trade benefits all. Minimum wages and union legislation make it difficult if not impossible for poor youth to get jobs. Lecture 3 of 10 from Walter Block’s Radical Austrianism, Radical Libertarianism

Block continues to parse all of the cases of libertarianism found in his book, Defending the Undefendable. Privatization solves the tragedy of the commons scenarios. Rent control resulted in nobody building residential units. Lecture 4 of 10 from Walter Block’s Radical Austrianism, Radical Libertarianism

Environmentalism sees market failure as the cause of environmental problems. Block sees the absence of private property rights and the interference of government as the causes of problems. Libertarianism provides solutions. Man is not a cancer on the planet. Markets have not failed. Endangered Species Acts encouraged negative incentives of shoot,

There are many enemies of a free society. Some, like Ronald Coase, call themselves libertarians or free enterprisers. Block’s main critique of Coase is that Ronald Coase denies any private property rights. Coase deals with externalities through taxes only, but not with property rights at all. Lecture 6 of 10 from Walter Block’s Radical

Block, Gwartney and Lawson at Frazier Institute of Canada created an annual index of Economic Freedom of the World. It has been more widely used than any other reports. 102 countries were ranked according to factors like life expectancies or income equality. The freest countries in the world from this particular ranking of seventeen different

Libertarians do not favor abortion (pro-choice). Nor are they opposed to it either (pro-life). Rather, libertarianism offers a philosophical compromise, evictionism. When does life begin? A fertilized egg seems the likely beginning. Lecture 8 of 10 from Walter Block’s Radical Austrianism, Radical Libertarianism

The Austrians view is that monopoly came about as privilege, usually granted by royalty, given to a particular person or industry. This process is arbitrary and capricious. Free entry is required in capitalism. There cannot be restrictions on entry, as with doctors. Price, quantity, profit, and deadweight loss are four criticisms of monopolies.

Libertarian punishment theory is two teeth for a tooth plus cost of capturing plus scaring if appropriate. It is part of reparations. It is necessary to find the rightful owner of property even if many generations have passed. But, the burden of proof of ownership gets harder. Reparation of property is a pro-property right position, not an

Recorded at Mises University 2005.