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Source link: http://archive.mises.org/2786/journal-of-libertarian-studies-vol-18-no-3-summer-2004/

JOURNAL OF LIBERTARIAN STUDIES VOL. 18, NO. 3 (SUMMER 2004)

November 29, 2004 by

Volume 18, no. 3 (Summer 2004)

  • “Kant on Property Rights” by Marcus Verhaegh. Verhaegh disputes the claim that Kant’s description of property rights requires government fiats. Rather, he writes, property claims in a Kantian system acquire legitimacy through an on-going process of negotiation and acceptance among private individuals. In fact, he claims, when reviewing the whole of Kantian thought, one realizes that Kant’s theory entails a dynamic complexity of multiparty communicative-interaction that leads to a fully civil condition.

  • “Legal Tender Laws and Fractional-Reserve Banking” by Jörg Guido Hülsmann. Legal tender laws must be understood as a major factor in the development of Western economies, which today operate on paper-money standards and feature very large fractional-reserve banking sectors that grow at over-proportional rates. Hülsmann claims that legal tender laws are not only a necessary prerequisite of paper money, but also benefit fractional-reserve banking. Thus, legal tender laws make paper money and fractional-reserve banking more widespread than these monetary institutions would otherwise be. Further, such laws entail the twin phenomena of fiat inflation and fiat deflation. In addition, he argues, legal tender laws have different effects depending on the physical characteristics of the money certificates, e.g., the debasement of legal tender coins is an inferior inflation technique in comparison to the production of legal tender fractional-reserve bank notes.

  • “Dehomogenizing Mises’s Monetary Theory” by Nikolay Gertchev. “The Austrian theory of money virtually begins and ends with Ludwig von Mises’s monumental Theory of Money and Credit,” according to Murray Rothbard, a sentiment with which critics and supporters both agree. However, Gertchev suggests that Mises’s monetary theory underwent significant changes between the Theory of Money and Credit and Human Action, and that the exposition in Human Action is vastly superior. In this article, Gertchev elucidates many monetary issues on which Mises’s later writings are more mature, and are purged of the errors of his prior writings.

  • “Self-Ownership, Abortion, and the Rights of Children: Toward a More Conservative Libertarianism” by Edward Feser. Libertarians frequently ground their arguments in self-ownership and natural rights. Critics claim that such a starting point leads to a libertine (not merely libertarian) ethos, making any political alliance between libertarians and conservatives philosophically inconsistent. However, Feser claims the opposite: self-ownership is not only not inconsistent with moral conservatism, it actually entails a kind of moral conservatism. Thus, he argues that libertarians who reject moral conservatism are actually violating their own fundamentals.

Summaries written by Scott Kjar

{ 7 comments }

Charles Hueter November 29, 2004 at 1:11 pm

I have a feeling Mr. Feser’s article is going to inspire quite a bit of comment as people digest what he advocates, particularly what he says from page 105 onward. An immediate negative reaction of mine is the apparent contradiction between his rejection of government defining and enforcing a moral code:

“One advantage claimed for this view [moral principles involving rights should be enforced by the state and morals involving promoting virtue and condemning vice should not] is that, though it by no means entails any kind of skepticism or relativism about morality, it does at least allow us to avoid having to settle disputes about moral issues about which there is great disagreement in modern society, and thus can facilitate social harmony. People who disagree about, say, whether homosexuality should be regarded as immoral or as a legitimate lifestyle
need not come to blows. Traditionalists are free to live in accordance with their views and to promote them within their own institutions – private associations, schools, places of business, churches, etc. – and “liberationists” can do the same within their institutions. This is one reason that libertarians hold that schools ought to be privatized and anti-discrimination laws abolished: such laws, and public education, inevitably involve the imposition of some people’s moral views on others.”

The libertarian does not absolutely rule out such things, however. Any community, of whatever size, is free to impose any restrictions
on its members that it likes, provided that all members of the community consent to the restrictions.

Cobined with his apparent endorsement of a local government (and through footnote 21, the federal government) overriding the desires of people within its jurisdiction to do just that:

“Suppose for purposes of illustration, though, that the members of a local governmental body believe that fornication, pornography,homosexuality, etc. are immoral, and that their promotion in public activities inevitably witnessed by the young will be as potentially corrupting to their moral character as would, say, a march by the KKK or Nazi party in a town where racial tensions are already high. Then it would have grounds, given the SOP [Self-Ownership Proviso, as envisoned by Erick Mack], for banning any such public activity – which would include explicit “sex ed” materials in the local
schools, a “pornography fair” at the local university, “gay pride” parades down Main Street, lewd billboard advertisements and displays
of pornographic materials on magazine racks, and so forth. These all quite obviously contribute to an atmosphere tending to undermine a child’s ability to develop character traits consistent with sexual virtue, given the extreme difficulty young people have in keeping sexual feelings under control – especially when constantly bombarded by messages insisting in effect that they not be kept under control. Along the same lines, the local government could prohibit the adoption of children by persons whose choice of sexual “lifestyle” it had reason to consider immoral, so as to prevent the moral corruption of those children. It could also prevent the formation of institutions, such as “same-sex marriage,” that it has reason to think would have a dramatic negative impact on the general public understanding of and commitment
to basic moral norms, for such a result would profoundly, if indirectly, affect the ability of children to form a sound moral sensibility.
Private vices generally recognized to be vices, and kept private, cannot justifiably be outlawed, but the public legitimization of such vices can and must be. 21

Although many libertarians will find such a suggestion shocking, I claim that they have no libertarian grounds for objecting to it, at least not if their libertarianism is based on the thesis of self-ownership.

All emphasis is the author’s.

Given that he does believe “the libertarian cannot rule out the possibility of such legislation a priori,” I think he’s in for a rough ride.

Alex November 29, 2004 at 7:35 pm

Actually I kind of agree with what Mr. Feser is saying. I have never quite been an advocate of the ‘plumb line’ libertarianism; I feel that laws are based on morality, and not property rights (sure, we know that stealing is wrong, but this is based on the basis of morality, not property.)

All societies must have institutions that limit people’s immoral behavior in some ways (yes, beyond the murder/theft/rape argument of libertarianism).

A highly localized (super minimal state) can do this, and as much as it might infuriate some libertarians (I’m sure I’m going to get a lot of replies on this one) I don’t see the inherent immorality in doing so. Libertarians often make the claim that private property limits bad behavior – but implicit in this argument is the belief that immoral behavior must be limited in some way.

Either the State limits bad behavior, or people must through voluntary institutions and exchange (the market). But it must be limited.

And please, no posts about ‘this economic activity doesn’t need to be regulated’; I’m not for regulating economic activity; for obvious reasons the State cannot regulate economic activity. Massive privitization (anything and everything from the FDA, public schools, roads, etc) should be started immediately. I’m not for economic regulations.

Steven Peterson November 29, 2004 at 8:46 pm

I find myself agreeing with much of what Feser says in his article, but also wary on the grounds Charles notes in his post. Feser’s argument, particularly in regards to subsidiarity, does seem to mesh with some of the political theory outlined by Hoppe.

I do have need for further clarification regarding Feser’s use of the Adam’s Island example, and perhaps those familiar with Mack might know: what are Adam’s additional obligations to Zelda once she has washed up on the shore’s of his island? He cannot morally exclude her from landing, but his ownership of the island would preclude her from doing anything without trespassing on Adam’s property rights claim to the island. This would then seem to deny Zelda her substantive right to life (she cannot produce or take anything from the island as this would be trespassing or stealing, but if she doesn’t she’ll presumably starve to death). What further moral obligations must Adam be held account for? Also, what are Zelda’s moral obligations to Adam?

As I see it, some of this begins down the Christian-socialist path: Adam is morally obligated to accept Zelda since she has a substantive right to life, but must he also go further and provide her some means by which to realize her substantive right to life, and how far must he go? Much of the Christian Left argues in this vein that capitalism denies substantive rights to life to the poor (i.e., the “living” wage) and offers only exploitation and “wage-slavery”. I am not sure how Mack or Feser addresses these issues of moral obligation and the boundaries of moral obligation. (I will leave aside the notion that Christians are morally obligated to assist the poor and needy without the coercion of the state).

Alex November 29, 2004 at 9:25 pm

Steven,

While I’m not a plumb-line libertarian, Rothbard answered this question as best as I think it can be answered, in my humble opinion.

Check out this article, and see if it clarifies any questions you have:

http://mises.org/daily/1628

Your question about Christians is notable. I remember the parable of Cain, after he killed Abel. God asked him, ‘where is your brother?’ and Cain said, ‘am I my brother’s keeper?’

Of course, the impact of this question to God by Cain is lost to many non-believers (and believers alike). The answer is we are all our brother’s keepers.

While this is true, it doesn’t follow that many Christian welfarists would like to believe. Thomas Woods, in his recent article on labor history of the United States, gives a quote from a staggering study which found that, on net, the economy has lost over 50 trillion dollars due to labor laws. That is 50,000 billions. That number is so enormous it baffles the mind – and makes this free marketer feel sick to his stomach.

The destruction of labor laws would yield a massive growth in our economy, and that is not even counting other growth that would be found if other laws were reappealed. Imagine the kind of economic growth that would happen if labor laws, economic price controls, the privatization of public services (roads, postal services, education, health care, etc) were reappealed/privatized?

The point of all of this is to ask the question; if such economic prosperity is indeed possible, exactly how can an argument be made that the free market impoverishes people?

As von Mises stated, in the free market, unemployment is voluntary.

David Heinrich November 29, 2004 at 10:41 pm

So-called political conservatism is nothing impressive. By preventing people from acting freely, you eliminate or hamper their ability to choose the moral course of action, thus to act morally.

Charles Hueter November 30, 2004 at 10:25 am

I have never quite been an advocate of the ‘plumb line’ libertarianism; I feel that laws are based on morality, and not property rights (sure, we know that stealing is wrong, but this is based on the basis of morality, not property.)

Alex, I’m curious about this. One of the defining characteristics of (what at least I) morality is in essense a “plum-line” system of behavior advocacy. “This activity is wrong, period. By extension that activity is also wrong.” By the same token, I consider any coercion to be wrong, period. Aggression is a moral issue in my view, and therefore provides the basis for behavioral guidelines down the theoretical road…property rights being an extension of this.

The “inherint immorality” in even the most limited of states (what I’ll assume for now to encompass a system of courts and national defense), therefore, is that those services are provided by an entity that will not allow private-sphere competition against it. A far, far cry from the ramapant collectivism and thuggery we have today, no doubt, but the two systems share a fundamental code: there are times when the Group can force the Individual around.

Mr. Heinrich put it well.

Walter Block discussed the non-aggression axiom here ( http://www.lewrockwell.com/block/block26.html ) for further development of the “extreme situation” senarios similar to what Mr. Feser used and came out on the other side.

(Administrators: the comment preview screen displays some HTML code notably different from what is finally posted. Paragraphs are not broken up without BR tags. The BLOCKQUOTE tag in particular formats screwy. Accordingly, I apologize for the ugliness of my first post.)

Shirley Knott December 2, 2004 at 7:44 am

I have to emphatically agree with Mr. Hueter — coercion is wrong, period. If one disgrees, how can one claim to be a libertarian? (Kindly note that the question deserves a sound argument in response rather than the usual fulminations and evasions we see from these wolves in sheep’s clothing — the pseudo-libertarian.)

The tragedy of alleged libertarians reverting to a so-called ‘conservative’ outlook lies in the almost desparate set of attempts to smuggle coercion in thru shoddy argument.
To wit:
“Any community, of whatever size, is free to impose any restrictions on its members that it likes, provided that all members of the community
consent to the restrictions.”
This an example of the fallacy of
And it is absurd once the fallacy is recognized — communities do not act, and so do not impose restrictions. Restrictions may be chosen by members of the community, up to and including all members. This does not, in any way, mean that the group imposed the restrictions — the restrictions were chosen. (A side note — it would be amusing, and perhaps instructive, to see how Mr. Feser and others of his ilk, would treat the case of change of commitment. What happens when a member of the community “withdraws his consent”, ie, chooses to adopt or release a restriction on his/her own behavior?)

And immediately following in the article, we see:
“It is fully consistent with libertarianism
that, for example, a group of Puritans decide together to settle a territory and institute a religious commonwealth, or that a group of
communists set up a socialist republic. What is ruled out is Puritans or communists imposing such a system on everyone else, on a community not all of whose members consent to it.”
Can you say ‘begging the question’?
The question at hand being, of course, the rights of children.
It would have been useful to see a discussion of how the rights of individual children intersect with the rights of individual adults.
But, of course, since we are being misled by the fallacy of composition, we are directed to look at the rights of the group [groups have no rights, only individuals do] and how they might supercede the rights (yet to be determined by logic and demonstrative argument) of children.

Gentlemen, this is the tragedy of modern libertarianism. We are being co-opted by those who are comfortable with preventing anyone else’s freedom as long as their own is left undisturbed.

regards,
Shirley Knott

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