In this entry, Volokh examines how externalities are generated in the market and questions the assumption that government should act because of them.
Government support and funding for the arts has been contested for its too restrictive, too loose, or too political attempts to define art.
Public choice theory, now popular among academics, approaches economic and political phenomena by examining individual choices and interests.
Ayn Rand remains one of the best-known and most influential individualist writers, credited with developing the philosophy of Objectivism.
Liberty has been a value to many civilizations. In this entry, Roderick Long highlights a few instances of liberal ideas in pre-modern societies.
Constitutionalism binds the government to a pre-decided set of rules and is favored as a form of limiting government expansion.
The Scholastics, writing during the late Middle Ages, contributed notions of individual rights and trade that would influence many classical liberals.
Natural law theorists explain that all man-made law should derive from some universal law of nature, discovered either through divine inspiration or human reason.
Known as one of the most foundational ancient thinkers, Aristotle’s works explored morality and ethics along with government and social organization.
Antitrust legislation seeks to break up big companies and industry monopolies in order to keep markets competitive, but sometimes favors narrow interest groups.
Rent-seeking occurs when actors lobby the government for regulatory legislation that assures the actor an advantage in the market.
Government regulation of the market is often argued to be a response to market failures. However, often these regulations make society worse off.
Richard A. Posner is a judge and legal theorist whose work was the foundation for the law and economics movement, which approaches law through economics.
Government interventionist policies are aimed to solve perceived problems of the completely free market but often result in harmful over-regulation.
Capitalism is the economic system in the majority of modern democracies today, in which the private ownership, exchange, and use of property is promoted.
The Anti-Corn Law League was a group that opposed the protectionist British Corn Laws and have been praised for achieving radical libertarian reform.
When the government uses price controls to influence the affordability of products, shortages or surpluses occur - often making the problem worse.
One of the leaders of the Anti-Corn Law League, Richard Cobden is considered an example of a liberal thinker with considerable success in changing British policy.