Sheldon Richman | The Libertarian Institute

TGIF: Immigration and Liberty

by Sheldon Richman | Jun 2, 2023 | Economics, Featured Articles, Foreign Policy, Justice, Libertarianism, Politics, Sheldon Richman, TGIF

Forbidding freedom of movement to aspiring migrants strikes at the liberty not only of those individuals but also of citizens and legal residents of the United States. That's the way it is with immigration. Indeed, that's the way it is with freedom. The government can't violate the freedom of some peaceful people without also violating the freedom of others. Ilya Somin, who teaches law at George Mason University and is a constitutional scholar with the Cato Institute, makes this point in "Three Constitutional Issues Libertarians Should Make Their Own." (The other two issues his title refers...

TGIF: The Knowledge that Only Free Markets Disclose

by Sheldon Richman | May 26, 2023 | Economics, Featured Articles, Libertarianism, Sheldon Richman, TGIF

As a follow-up to my recent article about F. A. Hayek's classic article "The Use of Knowledge in Society" (1945), I thought it worth extending Hayek's exploration of this area of social theory. In 1968 the Nobel laureate-economist delivered a lecture in German known in English as "Competition as a Discovery Procedure." It's an alluring title, and anyone concerned with what makes for a good and prosperous society should be familiar with Hayek's basic point. Hayek gets right to it. He notes that standard macroeconomists are guilty of having "investigated competition primarily under assumptions...

TGIF: No One Has a Right to Make Immigration Policy

by Sheldon Richman | May 19, 2023 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF

Florida Gov. Ron DeSantis says "no one has a right to immigrate" to the United States. "We determine as Americans," he says, "what type of immigration system benefits our country. When you're doing immigration, it's not for their benefit as foreigners. It's for your benefit as Americans. So if there's legal immigration that's harming America, we shouldn't do that either." I'd turn that around and say that no one, including a state legislature, has a right to forbid or restrict immigration, the peaceful movement of individuals from outside to inside America. That doesn't mean that landowners...

TGIF: Ducking Hayek

by Sheldon Richman | May 12, 2023 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF

May 8 marked the 124th anniversary of the birth of F. A. Hayek, the 1974 Nobel-winning economist of the Austrian school. (He died in 1992.) That makes it a good time to acknowledge one of his many contributions, his epistemic case for the free and competitive market order. It's well-suited to the information age. One of Hayek's best-known articles was published in 1945 in the American Economic Review: "The Use of Knowledge in Society" (reprinted in Individualism and Economic Order). He got right to the point: What is the problem we wish to solve when we try to construct a rational economic...

TGIF: Abolish Billionaires?

by Sheldon Richman | May 5, 2023 | Economics, Featured Articles, Justice, Sheldon Richman, TGIF

Sen. Bernie Sanders wants to abolish billionaires. You read that right. He says he'd confiscate 100 percent of people's money above the $999 million mark -- as if that would cover a significant portion of the nearly $7 trillion the feds will spend in the next fiscal year. Even if the government stole everything over $1 million, the money wouldn't go very far. The rich don't have enough money to finance the profligate state, and they wouldn't submit to the tax collector even if they did: incentives matter. But no matter -- raising revenue is not Sanders's goal. He just wants to deprive people...

TGIF: Free Markets and the Pursuit of Happiness

by Sheldon Richman | Apr 28, 2023 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF

For some time now I've thought that many people's antagonism to the market is motivated not by moral or economic objections but by aesthetic criteria. (I discuss this in What Social Animals Owe to Each Other and here.) By that I mean they simply find market relations -- involving private property, contracts, profit, competition, and "impersonal forces" such as supply and demand -- unattractive, even ugly. They wish society had nothing to do with such relations, which they (mistakenly) believe have displaced the cozy cooperation and communalism that marked an earlier golden age. They long to...

TGIF: Politics Corrupts Money

by Sheldon Richman | Apr 21, 2023 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF

Money does not corrupt politics. Politics corrupts money. Politics as we know it is inherently corrupt; it's the way to select government officials, who then use the legalized threat of physical force, and force itself, to make peaceful people do or not do things against their will. Since that's so, public problems cannot be solved by yet another measure to restrict people from spending their own momney to support candidates for office or lobby elected officials. At most, it will drive any influence to less-visible forms. Money in politics is a favorite complaint of populists across the...

TGIF: Has Libertarianism Passed Its Sell-By Date?

by Sheldon Richman | Apr 14, 2023 | Economics, Featured Articles, Justice, Politics, Sheldon Richman, TGIF

Ron DeSantis, who could be the next president of the United States, made his views frighteningly clear: "We understand that freedom is not just about the absence of restrictions.... I think we have to understand that the threats to freedom are not simply as a result of what happens in legislatures. Yes, you've got to win those fights. The left is trying to impose its agenda through a wide range of arteries in our society, including corporate America." On another occasion he said, "Fighting for freedom is not easy because the threats to freedom are more complex and more widespread than in the...