1. Objective and Subjective Value
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Description
Praxeology is a set of conceptual tools about the theory of action. It is the basis of economic theory. Whereas much has been fleshed out about the economics of human action, there is little about the ethics and natural rights of human action.
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A legal system is an institution to provide dispute resolution through judicial, legislative and executive functions. The state is that which maintains in large part a monopoly over force, geography and the legal system.
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When can you respond to force? The four response positions range from “never” to “impose by force some further penalty on them”. A person’s capacity must be considered. Compensation instead of punishment is generally a libertarian society’s choice.
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Does libertarianism require widespread acceptance of certain cultural values? One end of the spectrum says yes [thick libertarianism]. The other end says libertarianism does not require any other set of values except the non-aggression principle – the right not to have force initiated against...
Published 06/30/06