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Libertarianism: some conceptual problems

Published online by Cambridge University Press:  08 January 2010

Extract

Perhaps the most remarkable event in social thought of the last twenty years has been the resurgence of various strands of individualism as political doctrines. The term ‘individualism’ is a kind of general rubric that encompasses elements of nineteenth century classical liberalism, laissez-faire economics, the theory of the minimal state, and an extreme mutation out of this intellectual gene pool, anarcho-capitalism. The term libertarianism itself is applied indiscriminately to all of those doctrines. It has no precise meaning, except that in a general sort of way libertarianism describes a more rigorous commitment to moral and economic individualism and a more ideological approach to social affairs than conventional liberalism. I suspect that its current usage largely reflects the fact that the word with the better historical pedigree, liberalism, has been associated, in America especially, with economic doctrines that are alien to the individualist tradition.

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Papers
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Copyright © The Royal Institute of Philosophy and the contributors 1989

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References

1 While not a subjectivist in his ethics Hayek clearly does not think, following Hume, that reason is capable of formulating an objective set of moral principles. Instead he argues that a process of evolution will select out those moral rules most conducive to prosperity and progress. See his The Fatal Conceit (London: Routledge, 1988).Google Scholar

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4 For a standard account of the market's co-ordinating properties, see 1. Kirzner, , Competition and Entrepreneurship (University of Chicago Press, 1973)Google Scholar. The market as a co-ordinating mechanism should be distinguished from perfectly competitive equilibrium, see Barry, N. P., The Invisible Hand in Economics and Politics (London: Institute of Economic Affairs, 1988).Google Scholar

5 Nevertheless, what is valuable must presumably be desired by somebody. The perfectionist argument is that value ought not to be equated with the satisfaction of immediate desires and, further, that objects of desire ought not to be considered equally valuable.

6 See Raz, , The Morality of Freedom, 114–17Google Scholar, for a valuable discussion of this point. A large part of this section has been very much influenced by Raz's excellent book.

7 Rawls, J., A Theory of Justice (Oxford: Clarendon Press, 1972), 310–15Google Scholar and Dworkin, R., ‘Equality of Resources’, Philosophy and Public Affairs, 10 (1981), 283345Google Scholar. The liberal egalitarianism of both Rawls and Dworkin seems to derive from the view that unequal earnings that emerge from exercise of natural talents constitute a form of ‘rental’, or unearned income, to which the recipient has no moral entitlement.

8 See, for example, Simons, H. C., Economic Policy for a Free Society (University of Chicago Press, 1948).Google Scholar

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13 However, see Coase, R. H., ‘The Problem of Social Cost’, Journal of Law and Economics, 3 (1960), 144CrossRefGoogle Scholar, for a theory of how conventional‘externalities’ may be ‘internalised’ within the rules of a common law system.

14 It is this point which gives ‘anarcho-capitalism’ some intellectual plausibility, however remote the doctrine might be from political reality; see Barry, N. P., On Classical Liberalism and Libertarianism (London: Macmillan, 1986), Ch. 9.Google Scholar

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19 A further individualist implication of this is that such government action might itself increase the propensity to riot.

20 This change has often been levelled against Rawl's contractarianism, see Barry, B., The Liberal Theory of Justice (Oxford: Clarendon Press, 1973), Ch. 9.Google Scholar

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24 Libertarians who take this view normally concentrate on land: this is a non-augmentable resource which yields a rent to its lucky owners. The early Herbet Spencer believed that the existing distribution of holdings was unjust; see his Social Statics (London: William and Norgate, 1854).Google Scholar

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29 Buchanan argues that rational individuals would be more likely to chose the two thirds majority rule than simple majority rule because, although it would harm their interests on some occasions, over a run of political decisions, its application would produce collective benefits; see his Nobel Prize Lecture, ‘The Constitution of Economic Policy’, American Economic Review, LXXVII (1987), 243–50.Google Scholar

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