Abstract
AbstractConsider two principles for social evaluation. The first, “laissez-faire”, says that mean-preserving redistribution away from laissez-faire incomes should be regarded as a social worsening. This principle captures a key aspect of libertarian political philosophy. The second, weak Pareto, states that an increase in the disposable income of each individual should be regarded as a social improvement. We show that the combination of the two principles implies that total disposable income ought to be maximized. Strikingly, the relationship between disposable incomes and laissez-faire incomes must therefore be ignored, leaving little room for libertarian values.
Highlights
Libertarianism attributes ethical value to laissez-faire outcomes
We show that the laissez-faire principle, when combined with the Pareto principle, puts strong demands on the social ranking
We refer to a pair (x, m) as a social state
Summary
Libertarianism attributes ethical value to laissez-faire outcomes. Not in the name of efficiency or welfare maximization, but in the name of individual freedom and rights. Proponents of this political philosophy regard redistributive taxation as inherently injust. 169) states that “[t]axation of earnings from labor is on a par with forced labor. Taking the earnings of n hours labor is like taking n hours from the person; it is like forcing the person to work. 85) argues that “the entire system of taxation is a form of involuntary servitude. [p]art of the essence of slavery, after all, is forced work for someone at little or no pay.” Öztürk n hours for another’s purpose.” Rothbard (1973, p. 85) argues that “the entire system of taxation is a form of involuntary servitude. ... [p]art of the essence of slavery, after all, is forced work for someone at little or no pay.”
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