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Political Economy and Property Ownership

Both Ludwig von Mises and his former student, Murray Rothbard, base their ideas of political economy on the dominant importance of private ownership of property. There are some basic similarities, but even stronger differences between their two points of view. Rothbard is identified with the "Rothbardian, or natural rights, variant of individualist anarchism." Von Mises, on the other hand, is one of the few "pure or doctrinaire liberals." Thus, their political economies begin from similar points, but they wind up in different places. Political theorists from both schools of thought believe that their versions of the ideal society and state derive from the basic nature of humanity. Both begin with human beings' natural behavior, the actions (labor) that help ensure people's survival. Then, they say, securing the products of this labor is the basis of the human need for private property. Thus, both schools agree that production of private property is a basic element of human nature.

But, Rothbard sees this as a reason why people will live best if they live without any constraints on their right to their own property. People must be free, in everything they do, to act as they please. If they are at liberty to act naturally, human beings are able to live together because they will all be seeking the same basic liberties. Since they are rational, they will do nothing to upset the smooth functioning of the society. In this society, which would perfectly reflect the nature of humanity, no one would need to be coerced into anything. Nor could anyone enjoy "privileges at the expense of his fellow-citizens," and this means that there is no need for "any compulsion and coercion for the prevention of action detrimental to society."

In Rothbard's view of natural rights, people must behave in accordance with human nature. As Osterfeld explains, since self-ownership and private property come from human nature, "they ought to ...

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Political Economy and Property Ownership. (1969, December 31). In LotsofEssays.com. Retrieved 19:21, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1682783.html