*Classical Liberalism and the Austrian School* by Ralph Raico (updated)

Classical Liberalism and the Austrian School is the latest collection of essays from Ralph Raico, published by the Ludwig von Mises Institute. Ralph was kind enough to send me a print copy. The introductory, eponymous essay concerns the relationship between Austrianism as an economic methodology and classical liberalism as a political program or ideology. Raico …

Left-Libertarian Economics: Response to Carson

Kevin Carson was good enough to drop by and comment on my posts about his book, Studies in Mutualist Political Economy (here and here). I copy the comments below with my responses: (Kevin) Thanks again, Jason. In general, I don’t think any paradigms are falsifiable; you can add epicycles to anything. And I think a …

Left-Libertarian Economics’ Critique of Capitalism: Part Three

In my last look at left-libertarian economics, I argued that Kevin Carson's resurrection of the Labor Theory of Value adds no new information to standard, neoclassical price theory. Carson wishes to disapprove morally of profits but does not show that capitalists add nothing to the value of production. In particular, Carson acknowledges that capitalists contribute …

Left-Libertarian Economics as a Degenerative Paradigm: Part Two

In this post, I continue my series on left-libertarian economics by examining Kevin Carson's arguments for the labor theory of value (LTV) in Studies in Mutualist Political Economy. I argue that this is one area in which left-libertarian economics does represent a degenerative research program, that is, a body of scientific theories that protects itself …

Is Left-Libertarian Economics a Degenerative Paradigm? Part One

"Left-libertarianism" can be defined in one of at least three ways. It can refer to "liberaltarianism," a tactical stance and set of policy positions combining a substantially libertarian thrust with a preference for making alliances with the modern center-left. It can refer to a revisionist philosophical movement that differs from Robert Nozick's entitlement theory of …

Weekend Musing

O Capitalism, how I adore you. You are always thinking, day and night, of ways to make my life just a little bit easier. Like pull-tabs on the top of cookie packages so that they stay fresh - what a great idea. But O dear, sweet Capitalism - why doesn't every wine bottle have one …

“Commodities” vs. “Basic Human Rights”

I'm going to make a generalization here. Treating a good as a "basic human right" is one way to make sure you don't have enough of it. Treating a good as a "commodity" is the only way to make sure you have plenty of it. I'm thinking about K-12 education, housing for the poor, access …

Pinewood Derby and the Future of Capitalism

We have been working on Pinewood Derby cars for Cub Scouts.  My own Cub Scout has been bugging me about every 5 minutes for the past month to work on his car.  It is, fortunately, mostly done now.  My son can be very intense. Tears are a possibility. A few years ago another son was …