Political Economy and Property Ownership
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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
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therefore, in the complete elimination of the state. He sees it as not only unnecessary, but as constant threat to property rights. Such rights can never be guaranteed so long as someone, or some group, has the final word over any part of an individual's private property.
For doctrinaire liberals, such as von Mises, the market and private property come first as well. The interests of private property are the only basis on which a sound society can be built. But, doctrinaire liberals also believe that society is, as von Mises says, "concerted action, cooperation." In order to function in the best possible way, such societies have to be democratic, and they need governments. The society has to be able to guarantee the rights of private ownership, as well as the right of the people to liberty in all other aspects of their lives. Such liberals do not see how any of these goals can be met without some form of government to protect these rights. They argue that this government should be as small as possible, and that it should be strictly limited to the protection of these liberties. These liberals see the police and the courts as the main examples of the means by which the state guarantees individual liberties. But, they
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Approximate Word count = 1243
Approximate Pages = 5 (250 words per page)
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