The free market is a beautiful thing. The voluntary actions of individuals exchanging value for value according to mutual consent benefits all parties. Yet these days the myth is perpetuated that the free market is somehow harmful or to be feared. It will either destroy the environment or cause all manner of social ills. But the evidence shows us again and again that a free market solves human problems far better than a managed economy.
In Episode 98 of “Living outside the Matrix” Professor Walter Block of Loyola University New Orleans shares his vast knowledge and unique perspective to clear up some of the confusion and fears surrounding the free market. Dr Block is an Austrian school economist and a Libertarian.
The Free Market Solution
In the interview he describes how property rights and a lack of government regulations result in the best preservation of property and facilities overcoming the problem of the commons, and also the best services provided by private enterprise. The real beauty is that it is achieved with no force or coercion at all. The non-aggression principle is a key foundation stone of a civilised society, and it is the central principle free market economics.
If you wish to learn more about the free market and Austrian economics check out my interview with Dr Mark Thornton in Episode 31 of “Living outside the Matrix”, The economics of peace and abundance with Dr Mark Thornton.
Dr Block highly recommends the Von Mises Institute as a very useful resource for an education about the free market, property rights and the non-aggression principle in action. He also recommends these two books
“Economics in One Lesson” by Henry Hazlitt
“Atlas Shrugged” by Ayn Rand
Walter Block can be contected at www.walterblock.com
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