Between equality of wealth and equality before the law, there lies a third sense of the word, important but overlooked: equality of bargaining power. The left would do well to stop confusing wealth-inequality with it, and the right would do well to stop ignoring it. . . .
Winner of the Mont Pelerin Society’s 2012 Hayek Essay Contest. The essay first discusses the weaknesses of national central banking, and how those flaws are corrected in both free banking and an international central bank. Second, it draws from Hayek’s wider economic and political work to evaluate both alternatives according . . .
The idea of coercion is central to many strands of Libertarian thought, held up as the summum malum and opposed to voluntarism. But to actually define coercion precisely enough to build a political theory on it is a bit trickier. In general, definitions can be grouped into two broad categories: . . .