Wealth is born from production and meeting the demands of the market. As such, liberty encourages wealth, while government over-regulation may destroy it.
State agencies often try to create policy that sparks economic development, yet the proven way to stimulate progress is through economic freedom.
Frederic Bastiat was a 19th century economist whose writings have been foundational to the individualism & free trade economics movements.
Libertarians believe that laissez-faire policy, or the freest form of economy, provides the greatest net benefit to individuals and to society.
Free trade allows for goods and services to move freely across borders. It is the best way to distribute resources to those that value them most.
Dunoyer played a major role in the French classical liberal movement. He wrote on law, society, and the benefits of free markets and limited government.
Charles Comte, politician and prominent writer, was a principle figure in promoting classical liberalism in France in the early 19th century.
Classical economics, the position held by supporters of the free market and limited government, is one of the core tenants of the libertarian platform.
Debates over money and banking policy ask to what degree should the government intervene? The Austrian Theory of Banking proposes: very little.
Lawrence H. White explains the changing ways in which economists have thought about money and banking, including the debate over deregulation.
Ludwig von Mises was one of the most influential economists of the Austrian School, focusing among other issues the failures of central planning.
Hayek was one of the most prominent economists and philosophers supporting free-market economics and individualism; his work is often discussed today.
Economists in the Austrian School approach their analysis by looking at human behavior, and how human action by itself creates and regulates markets.
Assurance and trust are vital in any transaction. In this entry, Daniel Klein overviews the ways in which assurance arises and who should oversee it.
With many private contract enforcement options in existence, libertarians now question whether government is needed to guarantee contracts are upheld.
Voluntarism argues that individuals should not be coerced into “socially beneficial” projects, but should act voluntarily to assist others.
A restitution-based system, which requires the guilty to pay recompense to who they wrong, may be more just than our retribution or crime-based systems.
In this entry, Volokh examines how externalities are generated in the market and questions the assumption that government should act because of them.