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From: B
Sent: Monday, September 18, 2017 2:55 AM
To: wblock@loyno.edu
Subject: A question about Ragnar
Dear Professor Block, If I try to plunder Ragnar’s plunder can he defend himself? What if I just take his plunder when he isn’t looking, can he use force to get it back? Thanks for your time, B. Ps, And please don’t take Ragnar’s side just because he’s cool.

Dear B: Ragnar didn’t “plunder.” He relieved thieves of their ill-gotten gains. If you use violence, or stealth, to remove these very proper takings of his from him, then you are a thief. I always take the cool side of all arguments. Here are some publications of mine on this issue:

Block, 1972, 2002, 2004, 2006, 2007, 2008, 2009A, 2009B, 2010, 2011A, 2011B, 2011C, 2011D, 2016; Block and Arakaky, 2008, Block and Barnett, 2008, D’Amico and Block, 2007

Block, Walter E. 1972. “The Polish Ham Question.” The Libertarian Forum. June-July, Vol. 4, No. 6-7, p. 5; http://www.mises.org/journals/lf/1972/1972_06-07.pdf; http://mises.org/daily/4054; https://archive.lewrockwell.com/block/block143.html

Block, Walter E. 2002. “Accepting Government Subsidies,” Fraser Forum, February, p. 27; http://oldfraser.lexi.net/publications/forum/2002/02/section_13.html

Block, Walter E. 2004. “Radical Libertarianism: Applying Libertarian Principles to Dealing with the Unjust Government, Part I” Reason Papers, Vol. 27, Fall, pp. 117-133; http://www.walterblock.com/wp-content/uploads/publications/block_radical-libertarianism-rp.pdf

Block, Walter E. 2006. “Radical Libertarianism: Applying Libertarian Principles to Dealing with the Unjust Government, Part II” Reason Papers, Vol. 28, Spring, pp. 85-109; http://www.walterblock.com/publications/block_radical-libertarianism-rp.pdf; http://www.walterblock.com/wp-content/uploads/publications/block_radical-libertarianism-rp.pdf; http://www.reasonpapers.com/pdf/28/rp_28_7.pdf; (death penalty justified, net taxpayer, ruling class analysis p. 87)

Block, Walter E. 2007. “Ron Paul and Matching Funds,” October 1;
https://archive.lewrockwell.com/block/block86.html

Block, Walter E. 2008. “Replies to readers” September 23;
https://archive.lewrockwell.com/block/block108.html (libertarians hypocrites for using public school?)

Block, Walter E. 2009A. “Libertarian punishment theory: working for, and donating to, the state” Libertarian Papers, Vol. 1; http://libertarianpapers.org/2009/17-libertarian-punishment-theory-working-for-and-donating-to-the-state/

Block, Walter E. 2009B. “Toward a Libertarian Theory of Guilt and Punishment for the Crime of Statism” in Hulsmann, Jorg Guido and Stephan Kinsella, eds., Property, Freedom and Society: Essays in Honor of Hans-Hermann Hoppe, Auburn, AL: Ludwig von Mises Institute, pp. 137-148; http://mises.org/books/hulsmann-kinsella_property-freedom-society-2009.pdf

Block, Walter E. 2010. “You are a rotten kid (rent control and libertarianism),” February 27;
https://archive.lewrockwell.com/block/block150.html

Block, Walter E. 2011A. “It’s Ayn Rand Bashing Time, Once Again.” February 18; https://archive.lewrockwell.com/block/block172.html

Block, Walter E. 2011B. “May a Libertarian Take Money From the Government?” March 11; https://archive.lewrockwell.com/block/block175.html; https://www.lewrockwell.com/2011/03/walter-e-block/may-a-libertarian-take-money-from-the-government/

Block, Walter E. 2011C. “Toward a Libertarian Theory of Guilt and Punishment for the Crime of Statism,” Journal of Libertarian Studies, Vol. 22; pp. 665-675; http://mises.org/journals/jls/22_1/22_1_33.pdf

Block, Walter E. 2011D. “Hoppe, Kinsella and Rothbard II on Immigration: A Critique.” Journal of Libertarian Studies; Vol. 22, pp. 593–623; http://mises.org/journals/jls/22_1/22_1_29.pdf

Block, Walter E. 2016. “Is It Compatible With Libertarianism to be a Banker? Yes!” September 29; https://www.lewrockwell.com/lrc-blog/compatible-libertarianism-banker-yes/

Block, Walter E. and Chris Arakaky. 2008. “Taking Government Money for Grad School?” May 23; https://archive.lewrockwell.com/block/block100.html

Block, Walter E. and William Barnett II. 2008. “Continuums” Journal Etica e Politica / Ethics & Politics, Vol. 1, pp. 151-166 June; http://www2.units.it/~etica/; http://www2.units.it/~etica/2008_1/BLOCKBARNETT.pdf

D’Amico, Dan and Walter E. Block. 2007. “A Legal and Economic Analysis of Graffiti” Humanomics Vol. 23, No. 1, pp. 29-38; http://www.mises.org/journals/scholar/damico.pdf; http://www.emeraldinsight.com/Insight/viewContainer.do?containerType=Issue&containerId=24713; http://ssrn.com/abstract=1008525

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11:48 pm on September 20, 2017

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Jewish libertarians

Recently, I had occasion to list Jews who were libertarian oriented, who favored free enterprise and private property rights.

Are All Jews Socialists, Progressives, Communists, Left-Liberals, Bernie and Hillary Supporters, Democrats? No!

I asked, then, for help in adding to this list. Happily, many of you obliged me in this regard, so the list is now far more inclusive. If I am still missing anyone, please let me know as I would like this to be as complete as possible. I want to demonstrate that not all of my co-religionists are commie, pinko, progressive Bernie fans. Here it is:

Arnie Aberman
Gary Becker,
Walter E. Block,
Burt Blumert
Nathaniel Brandon,
Alan Bock,
Phillip Cagan
Frank Chodorov,
Aaron Director,
Michael Edelstein,
Gene Epstein,
Marcus Epstein,
Richard Epstein,
Rafi Farber
Lanny Freidlander,
Alan Futerman
David D. Friedman,
Milton Friedman,
Rose Friedman,
Steve Globerman,
David Gordon,
Gary Greenberg,
Ron Hamowy,
Steve Horwitz
Robert Katz
Israel Kirzner,
Ludwig Lachmann,
Michael Levin,
Michael Makovi
Henry Manne
Ilana Mercer
Ludwig von Mises,
Tonie Nathan
Victor Niederhoffer,
Robert Nozick,
Larry Parks
Leonard Piekoff,
Sam Peltzman
Dyanne Petersen,
Ayn Rand,
George Reisman
David Ricardo,
Howard Rich,
Murray Rothbard,
Mike Rozeff
Aaron Russo,
Murray Sabrin,
Irwin Schiff
Peter Schiff
Anna Schwartz,
Bernie Seigan,
Arthur Seldon
Karen Selick
Julian Simon,
Aaron Zelman

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3:09 pm on September 19, 2017

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Are All Jews Socialists, Progressives, Communists, Left-Liberals, Bernie and Hillary Supporters, Democrats? No!

From: R
Sent: Monday, September 11, 2017 6:53 PM
To: Walter Block
Subject: Anti-Semitism

I have to say Dr. Block, that I have deep feelings of resentment toward Zionist Jews. From Mayer Rothschild to Bernanke and Soros, I have serious problems. I have liked Ben Shapiro for a few years. Wow what a brilliant young man he is. But I just read an article that was linked on LRC in which he said that Yasser Arafat was “the most notorious thug of the 20th century”. What does that even mean? Certainly other men in the 20th century were more thug like and more notorious? Maybe Truman dropping the bomb perhaps? It’s that kind of thing that bothers me. I think you are Jewish, so I am reaching out in need of guidance on this. R

Dear R: I have great resentment not to Zionist Jews, but to virtually ALL Jews. Why? Because most of them are socialists, progressives, communists, liberals, Bernie and Hillary supporters, Democrats; ugh.

As it happens, I am myself Jewish. I’m not practicing, but I was born to Jewish parents, I was bar-mitzvahed, and when and if the next Hitler comes along, I will be undoubtedly on his list. But I don’t resent ALL Jews. Some of us were/are leaders in the freedom movement. Just to name a few:

Gary Becker,
Walter E. Block,
Nathaniel Brandon,
Alan Bock,
Frank Chodorov,
Aaron Director,
Michael Edelstein,
Gene Epstein,
Marcus Epstein,
Richard Epstein,
Lanny Freidlander,
David D. Friedman,
Milton Friedman,
Rose Friedman,
Steve Globerman,
David Gordon,
Gary Greenberg,
Ron Hamowy,
Steve Horwitz
Israel Kirzner,
Ludwig Lachmann,
Michael Levin,
Ludwig von Mises,
Victor Niederhoffer,
Robert Nozick,
Leonard Piekoff,
Dyanne Petersen,
Ayn Rand,
David Ricardo,
Howard Rich,
Murray Rothbard,
Aaron Russo,
Murray Sabrin,
Anna Schwartz,
Bernie Seigan,
Arthur Seldon
Julian Simon,

Unhappily, Jews of this sort are if not rarer than hen’s teeth, almost as rare. Not all of these Jews would consider themselves libertarians. The Objectivists would certainly reject this appellation. But, none of them, not a single one, were, or would have been, socialists, progressives, communists, liberals, Bernie and Hillary supporters, Democrats. If anyone can add to this list of mine, or correct it in any other way, please do so. Note, I do not include those who consider themselves to be conservatives and certainly not, equally ugh, neo-cons.

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5:16 pm on September 17, 2017

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Committing Insurance Fraud?

From: T
Sent: Wednesday, September 13, 2017 7:20 AM
To: Walter Block
Subject: “Defending” Scenario – Question About Compulsory Insurance
Hello Dr. Block, What would be your analysis of someone committing “insurance fraud”? For example, since we are required by law (at gunpoint) to purchase home, car, and other types of insurance – at least in some states – is it then immoral to commit “fraud” against the insurance companies? It certainly isn’t more immoral than the insurance companies spending tens of millions of dollars lobbying politicians to pass laws mandating that citizens purchase insurance. I’m interested in your take. I’m also willing to admit ignorance in how insurance lobbying works. Thanks! T

Dear T: You make an excellent point. Whenever anything coercive is done to a victim, all bets are off; the latter is now under duress. However, I cannot advocate committing insurance fraud, since to do so might well be against the law (I’m no lawyer), and I am too cowardly to want to risk that.

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7:34 pm on September 16, 2017

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From B to J:

My name is B, and I am from NC. I am teaching an Austrian Economics course to a group of home school students this year and would like your advice on undergraduate economics programs. I always find your perspective refreshing and down to earth, and I hope that you will provide some ideas about, or answers to, these questions: Would you recommend students interested in studying economics attend a university that has Austrian’s in their economics department? If so, what are some schools that might be of interest? Do you recommend studying economics as a major at all? Or would you rather see liberty-minded students pursuing other careers? (Obviously, there is no correct answer, but what are your thoughts?) I personally studied undergraduate economics at UNC Chapel Hill which was far from an Austrian stronghold; in fact, I never heard a mention of the Austrian school. Although I wish I could have studied the Austrian theory more in depth, not having it has spurred me on to deep personal study since graduating. Any time you spend on this request, I appreciate deeply. If you are too busy, I understand; I just ask that you would refer me to someone who may be of help in this matter. Many thanks in advance, B
P.S. Be encouraged that I have received overwhelmingly positive feedback from parents and students alike regarding the course material!
P.P.S. I am a full-time accountant, just getting started; any recommended readings for an Austrian perspective on accounting?

From: J
Sent: Wednesday, September 13, 2017 2:02 PM
To: B
Cc: Walter Block
Subject: Re: Recommended Undergraduate Economic Programs

Dear B: Thank you for the note. I strongly recommend that undergraduate (or graduate) students interested in economics attend the very “best” (i.e. most highly regarded) university they can within the parameters of budget/scholarships etc. I don’t recommend that they attend a university (at least not a US university) simply because it has some Austrian or Austrian-friendly professors. There are some programs in Europe, however, that can be good for intensely Austrian-focused, math averse Americans (e.g. at Angers in France and Rey Juan Carlos in Madrid, Spain). All economists need to learn “mainstream” arguments and math– in order to counter the mainstream and its obsession with data/modeling. Austrian economics is best learned by reading the great books and academic papers, in my view. Dr. Walter Block, however, does not hold this opinion. He thinks students should attend Loyola, George Mason, etc. I’m sure he can forward his stock response to this sort of question. As far as majoring in economics, that’s entirely up to the individual. It’s certainly necessary if one hopes to become an econ prof, and it’s certainly helpful to many related careers in finance, accounting, banking, etc.

Funny you should ask- Dr. Guido Hulsmann has a new book out that presents Austrian viewpoints on accounting. The current version is in German, but he plans to spend next summer here at the Mises Institute putting it into English. J

From Walter Block to both J and B:

Dear J: Thanks for putting me in touch with B. I don’t agree that ALL economists have to do anything, let alone undertake the very worthy task of “counter(ing) the mainstream and its obsession with data/modeling.” We live in an age of specialization. Many excellent Austrian economists have done no such thing, and, yet, made important contributions to our discipline. I don’t think Israel Kirzner, Ludwig Lachmann, Roger Garrison, have done that, but I’m not entirely sure. I have no doubt that if pushed, I could name a dozen or more good Austrian economists who have specialized in other things, and ignored that task, vital though it be.
Europe is great for Austrianism. Unhappily, I now think that on average, with some exceptions, European Austrian professors are better than their American counterparts: more Misesian-Rothbardian (that’s my definition of “good”). However, many American parents don’t want to send their young undergrad kids so far away from home. Also, those Europeans, weirdos, speak foreign languages! I think in many ways European Austrian places are better than American for graduate studies, not undergraduate. In the US, I am a big fan of Mason and Texas Tech, but only for grad studies, not undergrad. For the latter I favor my own school, plus Grove City College; Jeff Herbener and Shawn Ritenour are great. On Loyola, see this material:

Block, Walter E. 2017. “C’mon Down To New Orleans; The Water’s Fine. Enroll at Loyola University.” June 27;

C’mon Down To New Orleans; The Water’s Fine. Enroll at Loyola University

Loyola Economics Students Published Widely in Refereed Journals
http://www.loyno.edu/news/story/2017/7/17/3962

Block, Walter. 2017. “The Best Place to Study Undergraduate Economics.” June 30;
http://www.economicpolicyjournal.com/2017/06/the-best-place-to-study-undergraduate.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29

Wenzel, Robert. 2017. Interview with Walter E. Block. “The Inside Scoop on Studying Economics at Loyola University-New Orleans” September 3;
http://www.economicpolicyjournal.com/2017/09/the-inside-scoop-on-studying-economics.html
http://www.economicpolicyjournal.com/2017/09/the-inside-scoop-on-studying-economics.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29

Dear B: On Austrian accounting, see this:

https://www.google.com/search?q=Taylor%2C+Thomas+C+accounting&rlz=1C1CHZL_enUS747US747&oq=Taylor%2C+Thomas+C+accounting&aqs=chrome..69i57.2159j0j8&sourceid=chrome&ie=UTF-8

Taylor, Thomas C. 2000. “Current Developments in Cost Accounting and the Dynamics of Economic Calculation.” Quarterly Journal of Austrian Economics 3, no 2: 3-29.

I most certainly would recommend students interested in studying economics attend a university that has Austrians in their economics department? Also, and perhaps of equal or more importance, libertarian professors. At places like these, there will likely be more students of similar persuasions.

For your students, I highly recommend this book:

Hazlitt, Henry. 2008 [1946]. Economics in One Lesson. Auburn, AL: Mises Institute; http://mises.org/books/economics_in_one_lesson_hazlitt.pdf

Plus all of Mises’ and Rothbard’s intro material:

1. Mises, Ludwig von. 1988 [1958]. Liberty and Property. http://www.mises.org/document/880/Liberty-and-Property; http://library.mises.org/books/Ludwig%20von%20Mises/Liberty%20and%20Property.pdf

2. Rothbard, Murray N. 1963, 1985, 1990 What Has Government Done to Our Money? Auburn, AL.: Mises Institute; http://www.mises.org/rothbard/rothmoney.pdf

3. Mises, Ludwig von. 1969. Bureaucracy, New Rochelle, N.Y.: Arlington House; http://www.mises.org/Literature/search/?q=Bureaucracy; http://www.mises.org/document/875/Bureaucracy
http://bit.ly/MisesBUR

4. Rothbard, Murray N. 1969. “The Austrian Theory of the Trade Cycle,” p. 78-79, in Economic Depressions: Their Cause and Cure, Lansing, Michigan: Constitutional Alliance
http://mises.org/tradcycl/econdepr.asp; http://mises.org/daily/3127/Economic-Depressions-Their-Cause-and-Cure

5. Mises, Ludwig von. 1972. The Anti-Capitalist Mentality, South Holland, IL: Libertarian Press; http://www.mises.org/Literature/search/?q=The Anti-Capitalist Mentality; http://www.mises.org/document/1164/The-AntiCapitalistic-Mentality

6. Rothbard, Murray N. 1996. “Economic Depressions: Their Cause and Cure.” The Austrian Theory of the Trade Cycle and Other Essays. Auburn, AL: The Ludwig von Mises Institute, pp. 37-64. (Originally published by the Center for Libertarian Studies, 1978.) http://mises.org/daily/3127/Economic-Depressions-Their-Cause-and-Cure

7. Mises, Ludwig von. 1975[1933]. Economic Calculation in the Socialist Commonwealth, http://www.mises.org/Literature/search/?q=Economic Calculation in the Socialist Commonwealth; http://www.mises.org/document/448/Economic-Calculation-in-the-Socialist-Commonwealth

8. Rothbard, Murray N. 1994. The Case Against the Fed. Auburn, AL: The Ludwig von Mises Institute; http://mises.org/books/fed.pdf

9. Mises, Ludwig von. 1952. Planning for Freedom. http://www.mises.org/document/4309/Planning-for-Freedom-and-Twelve-other-Essays-and-Addresses; http://library.mises.org/books/Ludwig%20von%20Mises/Planning%20for%20Freedom%20and%20Twelve%20other%20Essays%20and%20Addresses.pdf

10. Rothbard, Murray N. 1962. “The Case For a 100 Percent Gold Dollar.” Leland Yeager (ed.), In Search of a Monetary Constitution. Cambridge, MA: Harvard University Press, pp. 94 136. Reprinted as The Case For a 100 Percent Gold Dollar, Washington, DC: Libertarian Review Press, 1974. http://mises.org/rothbard/100percent.pdf

11. Mises, Ludwig von. 1940[2004]. Interventionism. Auburn, AL: The Mises Institute; http://mises.org/etexts/mises/interventionism/contents.asp

I use this material in my intro to microeconomics courses.

Also, majoring in economics as an undergrad is not necessary if one hopes to become an econ prof. There are many econ profs who majored in other subjects as undergrads: mainly math-stats, but also history, poli sci, etc. There are even econ profs who have phd’s in subjects other than econ. David Friedman’s phd is in physics; the advanced degrees of Henry Manne and Gordon Tullock are in law.

Best regards,

Walter

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11:29 pm on September 14, 2017

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From: R
Sent:
To: Walter Block
Subject: Inquiry about research

Hello Dr. Block! We’ve corresponded a couple of years ago following the Ron Paul convention. I appreciated the reading material that you provided for me at that time on your theory of “eviction” instead of abortion. However, I’m currently researching information on an article I’m about to write for my blog, “The Blue Collar Economist” and subsequently as an op-ed for Epic Times, about the Flint Michigan water scandal. Specifically, I’m attempting to tie Ronald Coase into this story. I want to appeal to the reader how important private property rights are and how much of this could have been avoided had private markets provided the water for Flint.

I’m needing help in the history of how tort reforms have impeded the public from suing for damages (the public good vs. individual rights). I understand the concepts of Sovereign Immunity where governments are protected from public lawsuits via English Common Law and the Right of Kings. Where I need material is in the private market area. When did the courts begin to discourage suing fledgling industries for externalities? The Coase Theorem ties into this, I understand. I know you’ve done a yeoman’s work in these areas. Anything you might shove my way that you have written on about these topics would be greatly appreciated. I intend to cite your work in this article as well. Thanks ahead of time! R

Dear R:

Ronald Coase is a bitter enemy of private property rights:

Barnett and Block, 2005, 2007, 2009; Block 1977, 1995, 1996, 2000, 2003, 2006, 2010A, 2010B, 2010C, 2011; Block, Barnett and Callahan, 2005; Cordato, 1989, 1992a, 1992b, 1997, 1998, 2000; DiLorenzo, 2014; Fox, 2007; Hoppe, 2004; Krause, 1999; Krecke, 1996; Lewin, 1982; North, 1990, 1992, 2002; Rothbard, 1982, 1997; Stringham, 2001; Stringham and White, 2004; Terrell, 1999.

Barnett, William II and Walter E. Block. 2005. “Professor Tullock on Austrian Business Cycle Theory,” Advances in Austrian Economics, Vol. 8, pp. 431-443

Barnett, William II and Walter E. Block. 2007. “Coase and Van Zandt on Lighthouses,” Public Finance Review, Vol. 35, No. 6, November, pp. 710-733; http://pfr.sagepub.com/content/35/6/710

Barnett, William and Walter E. Block. 2009. “Coase and Bertrand on Lighthouses,” Public Choice; 140(1–2):1–13, http://dx.doi.org/10.1007/s11127-008-9375-x

Block, Walter. 1977. “Coase and Demsetz on Private Property Rights,” The Journal of Libertarian Studies: An Interdisciplinary Review, Vol. I, No. 2, Spring, pp. 111-115, http://www.mises.org/journals/jls/1_2/1_2_4.pdf; reprint translation: “Coase y Demsetz sobre el derecho de propiedad privada,” Libertas 37, Octubre de 2002, año XIX, pp.5-20.

Block, Walter. 1995. “Ethics, Efficiency, Coasean Property Rights and Psychic Income: A Reply to Demsetz,” Review of Austrian Economics, Vol. 8, No. 2, pp. 61-125, http://www.mises.org/journals/rae/pdf/rae8_2_4.pdf; http://www.mises.org/journals/rae/pdf/r82_4.pdf; reprint translation: “Ética, eficiencia, derechos de propiedad Coasianos e ingreso psíquico: una respuesta a Demsetz,” Libertas 37, octubre de 2002, año XIX, pp. 71-210

Block, Walter 1996. “O.J.’s Defense: A Reductio Ad Absurdum of the Economics of Ronald Coase and Richard Posner,” European Journal of Law and Economics, Vol. 3, pp. 265-286; http://www.walterblock.com/publications/block_oj’s-defense.pdf

Block, Walter. 2000. “Private Property Rights, Erroneous Interpretations, Morality and Economics: Reply to Demsetz,” Quarterly Journal of Austrian Economics, Vol. 3, No. 1, Spring, pp. 63-78; http://www.mises.org/journals/qjae/pdf/qjae3_1_8.pdf; reprint translation: “Derecho de propiedad privada, interpretaciones erróneas, moralidad y economía: en respuesta a Demsetz,” Libertas 37, octubre de 2002, año XIX, pp. 227-264

Block, Walter. 2003. “Private property rights, economic freedom, and Professor Coase: A Critique of Friedman, McCloskey, Medema and Zorn,” Harvard Journal of Law and Public Policy, Vol. 26, No. 3, Summer, pp. 923-951; http://findarticles.com/p/articles/mi_go2782/is_3_26/ai_n6640908/?tag=content

Block, Walter. 2006. “Coase and Kelo: Ominous Parallels and Reply to Lott on Rothbard on Coase,” Whittier Law Review, Vol. 27, No. 4, pp. 997-1022; https://litigation-essentials.lexisnexis.com/webcd/app?action=DocumentDisplay&crawlid=1&doctype=cite&docid=27+Whittier+L.+Rev.+997&srctype=smi&srcid=3B15&key=7abe221cecca64ce06068c3cbfa36fd1

Block, Walter E. 2010A. “A Response to Brooks’ Support of Demsetz on the Coase Theorem.” Dialogue, Vol. 2; http://www.uni-svishtov.bg/dialog/2010/2.10.WB.pdf

Block, Walter E. 2010B. “Rejoinder to Brooks on Coase and Demsetz.” Quarterly Journal of Austrian Economics; Vol. 13, No. 4, Winter, pp. 56-73; http://mises.org/journals/qjae/pdf/qjae13_4_3.pdf

Block, Walter E. 2010C. “Rejoinder to Boettke on Coasean Economics and Communism.” Romanian Economic and Business Review, Vol. 5, No. 3, Fall, pp. 9-90; http://www.rebe.rau.ro/REBE%205%203.pdf

Block, Walter E. 2011. “Rejoinder to Bertrand on lighthouses.” Romanian Economic and Business Review, Vol. 6, No. 3, Fall, pp. 49-67; http://www.rebe.rau.ro/REBE%206%203.pdf

Block, Walter E., William Barnett II and Gene Callahan. 2005. “The Paradox of Coase as a Defender of Free Markets,” NYU Journal of Law & Liberty, Vol. 1, No. 3, pp. 1075-1095; http://tinyurl.com/2hbzd4; http://www.nyujll.org/articles/Vol.%201%20No.%203/Vol.%201%20No.%203%20-%20Barnett,%20Block%20and%20Callahan.pdf; http://tinyurl.com/2hbzd4
to be reprinted in Mario Rizzo, ed. forthcoming. Austrian Law and Economics

Cordato, Roy E. 1989. “Subjective Value, Time Passage, and the Economics of Harmful Effects,” Hamline Law Review, Vol. 12, No. 2, Spring, pp.229-244.

Cordato, Roy E. 1992A. “Knowledge Problems and the Problem of Social Cost” Journal of the History of Economic Thought, vol.14, Fall, pp. 209-224.

Cordato, Roy E. 1992B. Welfare Economics and Externalities in an Open-Ended Universe: A Modern Austrian Perspective, Boston: Kluwer.

Cordato, Roy E. 1997. “Market-Based Environmentalism and the Free Market: They’re Not the Same,” The Independent Review, Vol. 1, No. 3, Winter, pp. 371-386.

Cordato, Roy. 1998. “Time Passage and the Economics of Coming to the Nuisance: Reassessing the Coasean Perspective,” Campbell Law Review, vol. 20, No. 2, Spring, pp. 273-292

Cordato, Roy. 2000. “Chasing Phantoms in a Hollow Defense of Coase” The Review of Austrian Economics, Vol. 13, No. 2, September, pp. 193-208.

DiLorenzo, Tom. 2014. “When Did Ronald Coase Become the Ayatollah of Economic Theory?” January 2; http://www.lewrockwell.com/2014/01/thomas-dilorenzo/the-beltarian-cult/

Fox, Glenn. 2007. “The Real Coase Theorems.” The Cato Journal: An Interdisciplinary Journal of Public Policy Analysis. Volume 27 Number 3, Fall, pp. 373-396; http://www.cato.org/pubs/journal/cj27n3/cj27n3-5.pdf

Hoppe, Hans-Hermann. 2004. “The Ethics and Economics of Private Property.” October 11; http://www.lewrockwell.com/hoppe/hoppe11.html

Krauss, Michael. 1999. “Tort Law, Moral Accountability, and Efficiency: Reflections on the Current Crisis” Markets and Morality, Vol. 2, No. 1, Spring; http://www.acton.org/publicat/m_and_m/1999_spr/krauss.html

Krecke, Elisabeth. 1996. “Law and the Market Order: An Austrian Critique of the Economic Analysis of Law,” Journal des Economistes et des Etudes Humaines 7(1), March, pp.19-37; Commentaries on Law&Economics, 1997 Yearbook, ed., Robert W. McGee, pp.86-109.

Lewin, Peter. 1982. “Pollution Externalities: Social Cost and Strict Liability.” Cato Journal, vol. 2, no. 1, Spring, pp. 205-229.

North, Gary. 1990. Tools of Dominion: The Case Laws of Exodus, Tyler, TX: Institute for Christian Economics.

North, Gary. 1992. The Coase Theorem, Tyler, TX: The Institute for Christian Economics

North, Gary. 2002. “Undermining Property Rights: Coase and Becker,” The Journal of Libertarian Studies: An Interdisciplinary Review, Vol. 16, No. 4, Fall, pp. 75-100; http://www.mises.org/journals/jls/16_4/16_4_5.pdf

Rothbard, Murray N. 1982. “Law, Property Rights, and Air Pollution,” Cato Journal, Vol. 2, No. 1, Spring; reprinted in Economics and the Environment: A Reconciliation, Walter E. Block , ed., Vancouver: The Fraser Institute, 1990, pp. 233-279. http://www.mises.org/rothbard/lawproperty.pdf; http://mises.org/story/2120

Rothbard, Murray N. 1997. “Value Implications of Economic Theory,” Logic of Action I (Cheltenham, UK: Edward Elgar), pp. 255-265.

Stringham, Edward Peter, and Mark White. 2004. “Economic Analysis of Tort Law: Austrian and Kantian Perspectives.” In Law and Economics: Alternative Economic Approaches to Legal and Regulatory Issues, ed. Margaret Oppenheimer and Nicholas Mercuro, 374-392. New York: M.E. Sharpe. http://www.sjsu.edu/stringham/docs/Stringham.and.White2005.pdf

Stringham, Edward. 2001. “Kaldor-Hicks Efficiency and the Problem of Central Planning,” Quarterly Journal of Austrian Economics, Vol. 4, No. 2, Summer, 41-50; http://www.mises.org/journals/qjae/pdf/qjae4_2_3.pdf

Terrell, Timothy D. 1999. “Property Rights and Externality: The Ethics of the Austrian School.” Journal of Markets and Morality. Vol. 2, No. 2, Fall; http://www.acton.org/publications/mandm/mandm_article_114.php

Debate: Block vs. Demsetz: Block – Demsetz debate (on Ronald Coase):

1. Block, Walter. 1977. “Coase and Demsetz on Private Property Rights,” The Journal of Libertarian Studies: An Interdisciplinary Review, Vol. I, No. 2, 1977, pp. 111-115; http://www.mises.org/journals/jls/1_2/1_2_4.pdf

2. Demsetz, Harold. 1979. “Ethics and Efficiency in Property Rights Systems,” in Time, Uncertainty and Disequilibrium: Explorations of Austrian Themes, Mario Rizzo, ed., Lexington Mass.: D.C. Heath and Co; http://mises.org/Books/timeuncertainty.pdf (see chapter 5)

3. Block, Walter. 1995. “Ethics, Efficiency, Coasean Property Rights and Psychic Income: A Reply to Demsetz,” Review of Austrian Economics, 8 (2): 61-125, http://www.mises.org/journals/rae/pdf/rae8_2_4.pdf

4. Demsetz, Harold. 1997. “Block’s Erroneous Interpretations,” Review of Austrian Economics, Vol. 10, No. 2, pp. 101-109; http://www.mises.org/journals/rae/pdf/rae10_2_6.pdf

5. Block, Walter. 2000. “Private Property Rights, Erroneous Interpretations, Morality and Economics: Reply to Demsetz,” Quarterly Journal of Austrian Economics, Vol. 3, No. 1, Spring, pp. 63-78; http://www.mises.org/journals/qjae/pdf/qjae3_1_8.pdf

Block-Lott Debate

Lott, John R. 1983-1984. “A Note on Law, Property Rights, and Air Pollution.” Cato Journal. Volume 3 Number 3, Winter, pp. 875-878

Block responded here:

Block, Walter. 2006. “Coase and Kelo: Ominous Parallels and Reply to Lott on Rothbard on Coase,” Whittier Law Review, Vol. 27, No. 4, pp. 997-1022

Lott did not reply to this Block, 2006.

Best regards,

Walter

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10:31 pm on September 12, 2017

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Borrow and Lend

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From: R
Sent:
To: Walter Block
Subject: Re: Austrian Economics

Borrowing lets the borrower consume what the lender has produced without himself producing first. If the borrower was not given a loan he would have to produce first and then exchange to consume. So in case of no credit the borrower would be forced to be more productive if he wanted to consume. So basically the point that I am trying to make is that an economy without credit will be more productive because whoever wants to consume will first have to produce on his own first.

But the loan is “earned.” The lender agreed! Merely because he did not produce this wealth does not mean he didn’t earn it, or isn’t the rightful (temporary) owner of it. You didn’t produce the shoes or wrist watch you’re now wearing. You didn’t “earn” them in the sense of producing them. Instead, you traded for them with the wealth you did earn (or were given by your parents, which is also a legitimate way of earning, or owning). And the borrower traded something with the lender. The lender lent the borrower, say, $100 for one year. What did the borrower trade with him in order to obtain this $100 for one year? Why, a promisory note, obligating the borrower to pay the lender $110 in a year’s time, for example. Basically I am trying to say one should not be allowed to consume the unearned. In case of a loan the borrower consumes the unearned first then earns and then repays. Thanks and Regards R

Dear R:

Not so. If an economy without credit were more productive, credit would be a negative on net balance. This is false. Credit allows for specialization and the division of labor. It transfers wealth, temporarily, from those who can use it less effectively to those who can use it more effectively (if not, the lender will lose his money, and be less able to lend in the future.)

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10:21 pm on September 12, 2017

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Which Comes First, The Cart or The Horse? The Horse

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From: R
Sent: Monday, March 07, 2016 1:44 PM
To: Walter Block
Subject: Re: Austrian Economics

Hi, I have a doubt in economics which I got after reading the Atlas shrugged by Ayn Rand. I would be highly obliged if you could help me with this query:-Causality is an irreversible absolute. One cannot eat a cake before he bakes it. Therefore production is the cause and consumption is the effect. In any Credit transaction we consume before we produce which is a reversal of causality. Therefore any form of credit should not exist. Where am I going wrong in my thinking? R

Dear R: You say this: “In any Credit transaction we consume before we produce which is a reversal of causality.” This is false. A correct statement would be, “When we borrow, we consume before we produce which is a reversal of causality.” But in a credit transaction, there are TWO sides. The borrower and the lender. Before the borrower can consumer, the lender had to produce. So, production always comes before consumption. No exceptions.

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10:14 pm on September 12, 2017

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I Become President of the U.S.

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From: N
Sent:
To: Walter Block
Subject: Re:

What if you never run, but everyone writes you in to be president?

Dear N: I get elected to be president of the US during slavery. I do nothing to stop it. I am responsible for it. I must end it. If I don’t do my best to end it, I’m a murderer. It is not a positive obligation. Rather, not ending slavery when I’m in charge of it is a violation of the NAP. Ditto for rent control. Nice try. You’re not president unless you agree to be president. There’s no compulsory draft for the presidency, as there is for the army. At least I don’t think so! However, if I somehow found myself as president of the US, I’d accept the job. I’d immediately hire Dr. Ron Paul to be my chief advisor, and I’d pretty much do whatever he suggested. But first, even before he mentioned it, I’d bring all the troops home. Immediately, if not sooner.

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9:52 pm on September 12, 2017

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From: S
Sent:
To: Walter Block
Subject: Against Fiduciary Media

Walter: I read your, Hans’ and Guido’s excellent 1998 paper entitled “Against Fiduciary Media”. I appreciate that the issuance of fiduciary media constitutes a fraud, in that two people cannot both own the same property at the same time. However, my question to you, which I don’t think is addressed in this paper, is this: Who could legitimately bring an action for fraud? If the depositor knows that the bank will lend out his demand deposit and that the bank is keeping less than 100% reserves against this deposit, if the borrower from the bank also knows that the bank is doing this, if people to whom the depositor writes a check know that the bank is doing this, and if investors in the bank know that the bank is doing this, who can legitimately complain about or sue for fraud? S

Dear S: Thanks for your kind comments about this paper of mine: Hoppe, Hans-Hermann, with Guido Hulsmann and Walter E. Block. 1998. “Against Fiduciary Media,” Quarterly Journal of Austrian Economics, Vol. 1, No. 1, pp. 19-50, http://www.mises.org/journals/qjae/pdf/qjae1_1_2.pdf;
http://www.qjae.org/journals/qjae/pdf/Q11_2.pdf; translated into Spanish and published as “Contra los medios fiduciaros,” Libertas, No. 30, May 1999, pp. 23-73; 2011 translation and reprint in Romanian Economic and Business Review

Since you liked that one, you might also be interested in this one, on much the same subject:

Davidson, Laura and Walter E. Block. 2011. “The Case Against Fiduciary Media: Ethics Is The Key,” The Journal of Business Ethics. Vol. 98, Issue 3, pp. 505-511; http://www.walterblock.com/wp-content/uploads/V.345_The-Case-Against-Fiduciary-Media-Ethics-Is-The-Key.pdf; http://link.springer.com/article/10.1007%2Fs10551-010-0590-2

In my view, all those victimized for fraud may sue for it. That is, all of those people you mention.

Best regards,

Walter

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9:21 pm on September 12, 2017

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