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From: A
Sent: Monday, December 11, 2017 7:51 PM
To: wblock@loyno.edu
Subject: FW: Questions

Dear Dr Block: I was listening to one of your speeches from 4 years ago – December 2013 in Australia. I have several questions. It is an old video, I am enclosing link to a YouTube video to refresh your memory. At time mark 46:01 young lady asks you about a dishonest cop. Wouldn’t letting a prostitute go be a violation of contract, she said, and therefore a better option for a policeman would be not to become one?

I am sorry, but I found your response to her question unusually poor. (You said that contracts with the Devil may be freely broken). While I agree that we have abundance of stupid laws, and everything government declares a war on is doing great (war on drugs, war on terror, war on poverty, etc.) – I think the most logical thing to do would be to entice governments to declare war on prosperity… Anyway, what if I were to contract you for a tour, ask you to pay your travel expenses initially as well as hotel accommodation and offered to pay you $10K per day, but once the tour was over I’d say that you bathe with rubber duckie, and since you are the Devil our contract is no longer valid? What if I disagreed with some of your views just like the policeman may disagree with some of the laws? Would that then morally justify my position and make not paying you agreed fee justified?

The other issue is ‘eviction of the unborn’. Would you not agree that more reasonable position would be to enforce the birth on the basis that having sex has implied consequences? To move it to your (excellent) boat analogy – I’m swimming in an ocean 1000 miles from shore, and you spot me from your boat. You would not have the right to run me down, but I would agree you would have the right to push me off, or even shoot me if I were to attempt to climb aboard.
However, once you invite me on this would create a reasonable expectation that I can stay there until we dock. I would not have a say where you drop me off – for example you could pick me up off US coast, but deliver me to Africa, and you would not have any obligation to feed me – if I starve then so be it. Wouldn’t that be more reasonable?

And finally, if you would like to privatise everything (I almost agree) what would your solution be to child molester that kidnaps children to sexually abuse them, and yet is not consenting to having his house searched. Private police and courts aren’t recognised by him/her. What would be your ‘non-aggression’ resolution to such conflict?

Kind regards, A

Dear A: Thanks for your incisive criticisms of this talk of mine. It brings back many happy memories of my time in the down under. Here are my responses:

1. Contracts with government.
I continue to believe that the government is a criminal gang.

States Murray Rothbard on this matter: (1973, p. 49): “if you wish to know how libertarians regard the State and any of its acts, simply think of the State as a criminal band, and all of the libertarian attitudes will logically fall into place.”

Rothbard, Murray N. 1973. For a New Liberty, Macmillan, New York; http://mises.org/rothbard/newlibertywhole.asp

Are contracts with criminal gangs valid? I continue to believe that they are not. Therefore, they may be abrogated without any violation of libertarian law.

2. I’m not the devil. I’m not a government. You owe me that “$10K per day.” Pay up! Disagreeing is not the issue. The point is the libertarian emphasis on the non aggression principle (NAP). The policeman who upholds the law against prostitution, or the minimum wage law, is initiating violence against innocent people. The Nuremberg Trials established that it is not valid to enforce unjust laws that violate the NAP. Well, at least some of them.

3. Abortion. I’ve written lots of material on this, so I won’t respond to this objection of yours other than to point you in the direction of reading these publications of mine. See below.

4.Privatization will not save the child molester-kidnapper. The (hopefully private, but even government) police should break down his front door if need be and impose the severest legal penalties on this miscreant. Private property rights do not justify NAP violations such as these. If they did? A shoots a bullet at B. B deflects the bullet with his shield. A sues B for interfering with his private property rights over the bullet. Grotesque. But that is the logical implication of what you are saying.

Thanks again for your probing questions, and criticisms. Please accept my best regards for yourself, and send them, also, to my many Australian friends.

All: Akers, 2012A, 2012B; Block, 1977, 1978, 2001, 2004, 2008, 2010A, 2010B, 2011A, 2011B, 2011C, 2011, 2012, 2014A, 2014B, 2014; Block and Whitehead, 2005; Davies, 2012; Dyke and Block, 2011; Parr, 2011, 2013; Rothbard, ; Sadowsky, 1978; Shaffer, 2012; Wisniewski, 2010A, 2010B, 2011, 2013.

I. Here are Walter E. Block’s publications and speeches on abortion, pro life, pro choice, evictionism, followed by critiques of his views, followed by his responses to these critiques:

Block, 1977, 1978, 2001, 2004, 2008, 2010A, 2011, 2012, 2014A, 2014B; Block and Whitehead, 2005; Dyke and Block, 2011

Block, Walter E. 1977. “Toward a Libertarian Theory of Abortion.” The Libertarian Forum. Vol. 10, No. 9, September, pp. 6-8; http://www.mises.org/journals/lf/1977/1977_09.pdf

Block, Walter E. Undated (1997?). “L’Aborto: Una Legittima Difesa,” Claustrofobia, anno 1, n. 3, pp. 16-22.

Block, Walter E. 1978. “Abortion, Woman and Fetus: Rights in Conflict?” Reason, Vol. 9, No. 12, April, pp. 18-25.

Block, Walter E. 2001. “Stem Cell Research: The Libertarian Compromise.” September 3; https://archive.lewrockwell.com/block/block5.html

Block, Walter E. 2004. “Libertarianism, Positive Obligations and Property Abandonment: Children’s Rights,” International Journal of Social Economics; Vol. 31, No. 3, pp. 275-286; http://www.emeraldinsight.com/Insight/viewContainer.do?containerType=Issue&containerId=18709; http://www.walterblock.com/wp-content/uploads/publications/block-children.pdf

Block, Walter E. 2008. “Homesteading, ad coelum, owning views and forestalling.” The Social Sciences. Vol. 3, No. 2, pp. 96-103; http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1890872

Block, Walter E. 2014A. “Evictionism and Libertarianism.” Journal of Medicine and Philosophy. Volume 35, Issue 2, pp 290-294; http://jmp.oxfordjournals.org/content/early/2014/04/27/jmp.jhu012.full?keytype=ref&ijkey=3n1zc8zcBRnT586;

Block, Walter E. 2010B. “A libertarian perspective on the stem cell debate: compromising the uncompromisible,” Journal of Medicine and Philosophy. Vol. 35: 429-448;
ijkey=oczT7ytzmoAD1cz&keytype=ref; http://jmp.oxfordjournals.org/cgi/reprint/jhq033?ijkey=oczT7ytzmoAD1cz&keytype=ref ; http://wipimd.com/?&sttflpg=78eaf87fd81ebaaa7a245cca600b15bba8497c2cfbf1284c08a0260ba068d4ad&cmpgp0811Ueh016=ICD20811TEH0PkRLpL1IF; http://wipimd.com/?&sttflpg=4b842f7f4697bce38422e0bfe03e6ccad53070377a9303d5#JAL1

Block, Walter E. 2011A. “Terri Schiavo: A Libertarian Analysis” Journal of Libertarian Studies; Vol. 22, pp. 527–536; http://mises.org/journals/jls/22_1/22_1_26.pdf; http://libertycrier.com/walter-block-terri-schiavo/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+LibertyCrier+%28Liberty+Crier%29

Block, Walter E. 2012. “A Not So Funny Thing Happened to Me in Tampa.” August 30; https://archive.lewrockwell.com/block/block208.html

Block, Walter E. 2014A. “Should abortion be criminalized? Rejoinder to Akers, Davies and Shaffer on Abortion” Management Education Science Technology (MEST) Journal. Vol. 2, No. 1, January, pp. 33-44; http://fbim.meste.org/FBIM_1_2014/Sadrzaj_eng.html; http://fbim.meste.org/FBIM_1_2014/_04.pdf

Block, Walter E. 2014E. “Toward a libertarian theory of evictionism,” Journal of Family and Economic Issues. June; Volume 35, Issue 2, pp. 290-294; http://link.springer.com/article/10.1007%2Fs10834-013-9361-4;
http://www.springerlink.com/openurl.asp?genre=article&id=doi:10.1007/s10834-013-9361-4; http://download.springer.com/static/pdf/463/art%253A10.1007%252Fs10834-013-9361-4.pdf?auth66=1385583057_5dd1e3442d2db3f98c91dcf5a5d5fa43&ext=.pdf; http://www.springer.com/home?SGWID=0-0-1003-0-0&aqId=2507833&download=1&checkval=feff928fe5dfc72bc210032f220ca40a.

Block, Walter E. and Roy Whitehead. 2005. “Compromising the Uncompromisable: A Private Property Rights Approach to Resolving the Abortion Controversy,” Appalachian Law Review, 4 (2) 1-45; http://www.walterblock.com/publications/block-whitehead_abortion-2005.pdf; http://www.walterblock.com/wp-content/uploads/publications/block-whitehead_abortion-2005.pdf; https://www.researchgate.net/publication/228125532_Compromising_the_Uncompromisable_A_Private_Property_Rights_Approach_to_Resolving_the_Abortion_Controversy?ev=prf_pub

Dyke, Jeremiah and Walter E. Block. 2011. “Explorations in Property Rights: Conjoined Twins.” Libertarian Papers, Vol. 3, Art. 38; http://libertarianpapers.org/2011/38-dyke-block-conjoined-twins/

ijkey=oczT7ytzmoAD1cz&keytype=ref; http://jmp.oxfordjournals.org/cgi/reprint/jhq033?ijkey=oczT7ytzmoAD1cz&keytype=ref

II. Critics of evictionism:

Akers, 2012A, 2012B; Davies, 2012; Feser, 2004; Goodwin, 2014; Parr, 2011, 2013; Mosquito, 2014, 2015; Rothbard, ; Sadowsky, 1978; Shaffer, 2012; Rothbard, 1978; Vance, 2008, 2012; Wisniewski, 2010A, 2010B, 2011, 2013.

Akers, Becky. 2012A. “Not My Definition — or Webster’s Either — of ‘Trespassing’” September 6; https://archive.lewrockwell.com/blog/lewrw/archives/120226.html
Akers, Becky. 2012B. “What if the ‘Fetus’ Could Shoot Back?” September 12; https://archive.lewrockwell.com/blog/lewrw/archives/120728.html
Davies, Jim. 2012. “Abortion.” September 24;

Feser, Edward. 2004. “Self-ownership, abortion, and the rights of children: toward a more conservative libertarianism.” Journal of Libertarian Studies. Volume 18, no. 3 (Summer), pp. 91-114; http://www.indytruth.org/library/journals/libertarianstudies/18/18_3_5.pdf

Goodwin, Jonathan. 2014. “Libertarians and Abortion.” December 23;

Mosquito, Bionic. 2014. “Libertarians and Abortion.” December 23;

Mosquito, Bionic. 2015. “Walter Block, Specific Performance Contracts, and Abortion.” July 12; http://bionicmosquito.blogspot.com/2015/07/walter-block-specific-performance.html

Parr, Sean. 2011. “Departurism and the Libertarian Axiom of Gentleness.” Libertarian Papers, Vol. 3, No. 34, http://libertarianpapers.org/articles/2011/lp-3-34.doc

Parr, Sean. 2013. “Departurism Redeemed – A Response to Walter Block’s ‘Evictionism is Libertarian; Departurism is Not: Critical Comment on Parr.’” Journal of Peace, Prosperity, and Freedom, Vol. 2, pp. 109-123; http://jppfaustralia.weebly.com/home/departurism-redeemed-a-response-to-walter-blocks-evictionism-is-libertarian-departurism-is-not-critical-comment-on-parr

Presley, Sharon and Robert Cooke (aka Morgan Edwards). 1979. “The right to abortion: a libertarian defense.” Association of libertarian feminists discussion paper

Rothbard, Murray N. 1978. “The editor replies.” Libertarian Forum. July-August, p. 3; http://mises.org/journals/lf/1978/1978_07-08.pdf

Sadowsky, S.J., James. 1978. “Abortion and Rights of the Child.” Libertarian Forum. July-August, pp. 2-3; http://mises.org/journals/lf/1978/1978_07-08.pdf

Shaffer, Butler. 2012. “Of Children and Fetuses.” September 17;

Vance, Laurence. 2008. “Is Ron Paul Wrong on Abortion?” January 29; https://archive.lewrockwell.com/vance/vance133.html

Vance, Laurence. 2012. “Libertarianism and Abortion.” July 17;

Wisniewski, Jakub Bozydar. 2010A. “A Critique of Block on Abortion and Child Abandonment.” Libertarian Papers Vol. 2, No. 16; http://libertarianpapers.org/2010/16-wisniewski-block-on-abortion/

Wisniewski, Jakub Bozydar. 2010B. “Rejoinder to Block’s Defense of Evictionism.” Libertarian Papers. Vol. 2, Art No. 27; http://libertarianpapers.org/articles/2010/lp-2-37.pdf

Wisniewski, Jakub Bozydar. 2011. “Response to Block on Abortion, Round Three.” Libertarian Papers. Vol. 3, No. 6, pp. 1-6;
http://libertarianpapers.org/2011/6-winiewski-response-to-block-on-abortion-round-three/; http://libertarianpapers.org/articles/2011/lp-3-6.pdf

Wisniewski, Jakub Bozydar. 2013. “Abortion, Libertarianism and Evictionism: A Last Word.” Libertarian Papers, Vol. 5, No. 1, pp. 153-162; http://libertarianpapers.org/2013/6-wisniewski-abortion-libertarianism-and-evictionism/

III. Block responds to critics:

Block, 2010A, 2010B, 2011A, 2011B, 2011C, 2014; forthcoming

Block, Walter E. 2010A. “Objections to the Libertarian Stem Cell Compromise,” Libertarian Papers 2, 34; http://libertarianpapers.org/2010/34-block-objections-to-the-libertarian-stem-cell-compromise/

Block, Walter E. 2010B. “Rejoinder to Wisniewski on Abortion.” Libertarian Papers; Vol. 32, No. 2; http://libertarianpapers.org/2010/32-block-rejoinder-to-wisniewski-on-abortion/; http://libertarianpapers.org/articles/2010/lp-2-32.pdf

Block, Walter E. 2011A. “Response to Wisniewski on Abortion, Round Two.” Libertarian Papers; Vol. 3, Article No. 4; http://libertarianpapers.org/2011/4-block-response-to-wisniewski-on-abortion-round-two/

Block, Walter E. 2011B. “Response to Wisniewski on Abortion, Round Three.” Libertarian Papers, Vol. 3, No. 6; http://libertarianpapers.org/2011/37-block-response-to-wisniewski-on-abortion/

Block, Walter E. 2011C. “Evictionism is libertarian; departurism is not: critical comment on Parr.” Vol. 3, Article 36, Libertarian Papers;

Block, Walter E. 2014D. “Response to Wisniewski on Abortion, Round Four.” Management Education Science Technology Journal (MEST); Vol. 2, No. 2, pp. 1-14;

Block, Walter E. 2013. “Rejoinder to Parr on Evictionism and Departurism” Journal of Peace, Prosperity & Freedom, Vol. 2, pp. 125-138; http://jppfaustralia.weebly.com/current-issue.html; http://jppfaustralia.weebly.com/uploads/1/4/5/5/14558572/journalpeaceprosperityfreedom_single.pdf

Block, Walter E. 2014. “Should abortion be criminalized? Rejoinder to Akers, Davies and Shaffer on Abortion” Management Education Science Technology (MEST) Journal. Vol. 2, No. 1, January, pp. 33-44; http://fbim.meste.org/FBIM_1_2014/Sadrzaj_eng.html; http://fbim.meste.org/FBIM_1_2014/_04.pdf

Block, Walter E. Forthcoming. “Abortion Once Again; a response to Feser, Goodwin, Mosquito, Sadowsky, Vance and Watkins.” Journal of Constitutional Research (Brazil)

Forestalling: forestall: bagel: donut:

Block, 1977, 2001, 2003, 2004, 2008, 2010A, 2010B, 2011, 2016; Block and Whitehead, 2005; Epstein vs Block, 2005

Block, Walter E. 1977. “Toward a Libertarian Theory of Abortion.” The Libertarian Forum. Vol. 10, No. 9, September, pp. 6-8; http://www.mises.org/journals/lf/1977/1977_09.pdf

Block, Walter E. 2001. “Stem Cell Research: The Libertarian Compromise.” September 3; https://archive.lewrockwell.com/block/block5.html

Block, Walter E. 2003. “Libertarianism vs. Objectivism; A Response to Peter Schwartz,” Reason Papers, Vol. 26, Summer, pp. 39-62; http://www.reasonpapers.com/pdf/26/rp_26_4.pdf Nambla, child sexuality, child abuse

Block, Walter E. 2004. “Libertarianism, Positive Obligations and Property Abandonment: Children’s Rights,” International Journal of Social Economics; Vol. 31, No. 3, pp 275-286; http://www.emeraldinsight.com/Insight/viewContainer.do?containerType=Issue&containerId=18709; http://www.walterblock.com/wp-content/uploads/publications/block-children.pdf

Block, Walter E. 2008. “Homesteading, ad coelum, owning views and forestalling.” The Social Sciences. Vol. 3, No. 2, pp. 96-103; http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1890872

Block, Walter E. 2010A. “A libertarian perspective on the stem cell debate: compromising the uncompromisible,” Journal of Medicine and Philosophy. Vol. 2
ijkey=oczT7ytzmoAD1cz&keytype=ref; http://jmp.oxfordjournals.org/cgi/reprint/jhq033?ijkey=oczT7ytzmoAD1cz&keytype=ref

Block, Walter E. 2010B. “Van Dun on Freedom and Property: A Critique” Libertarian Papers; Vol. 2, No. 4; http://libertarianpapers.org/2010/4-block-van-dun-on-freedom-and-property/

Block, Walter E. 2011. “Terri Schiavo: A Libertarian Analysis” Journal of Libertarian Studies; Vol. 22, pp. 527–536; http://mises.org/journals/jls/22_1/22_1_26.pdf; http://libertycrier.com/walter-block-terri-schiavo/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+LibertyCrier+%28Liberty+Crier%29

Block, Walter E. 2016. “Forestalling, positive obligations and the Lockean and Blockian provisos: Rejoinder to Stephan Kinsella.” Ekonomia Wroclaw Economic Review. http://ekon.sjol.eu/category/22-3-2016-529

Block, Walter E. and Roy Whitehead. 2005. “Compromising the Uncompromisable: A Private Property Rights Approach to Resolving the Abortion Controversy,” Appalachian Law Review, 4 (2) 1-45; http://www.walterblock.com/publications/block-whitehead_abortion-2005.pdf; http://www.walterblock.com/wp-content/uploads/publications/block-whitehead_abortion-2005.pdf; https://www.researchgate.net/publication/228125532_Compromising_the_Uncompromisable_A_Private_Property_Rights_Approach_to_Resolving_the_Abortion_Controversy?ev=prf_pub

Epstein, Richard vs. Walter E. Block, 2005. “Debate on Eminent Domain.” NYU Journal of Law & Liberty, Vol. 1, No. 3, pp. 1144-1169


1:43 pm on December 14, 2017

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Like the Little Girl With the Curl: How Can Pat Buchanan Be So Good On Foreign Policy, and Yet So Bad on Free Trade?

Pat Buchanan is like the little girl with the curl; when she was good, she was awfully good; when she was bad, she was horrid.

Here he is on foreign policy: https://www.lewrockwell.com/2017/12/patrick-j-buchanan/what-should-we-fight-for/. This is no less than magnificent. The essay is surely up to the standards of Ron Paul, Murray Rothbard and all other hard-core libertarians who consistently utilize our theory, even in this realm, unlike some beltway “libertarians.”

But in sharp and stark contrast, Buchanan’s views on international trade are bloody awful. He is a protectionist through and through. He never saw a tariff he didn’t like (I exaggerate, but only slightly). Even Milton Friedman and Adam Smith, quasi libertarians at best, can see through this economic illiteracy of Buchanan’s. Friedman, happily, has called for a US unilateral declaration of free trade with all other nations, whether or not they reciprocate. This is the only position consistent with libertarianism. I strive mightily each semester, sometimes even successfully, to inculcate my freshman students with enough economic knowledge to see through the fallacies of protectionism. Mr. Buchanan simply has no knowledge of the doctrine of comparative advantage, specialization and the division of labor.

How can Buchanan be so insightful in one area of human action, foreign policy, and yet so dreadful on another, international trade? Inquiring minds want to know. This may be one of the greatest mysteries of the modern era of political economic commentary.


1:01 pm on December 13, 2017

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The US Armed Forces Will Become Less Efficient. Is This Good or Bad From the Libertarian Perspective? Good.

Stipulate That the US Armed Forces Will Become Less Efficient; Should We Welcome This Development?

Breaking news: A Federal judge today rejected President Trump’s order stopping the enlistment of transgendered people into the American military. Posit that this will make the Army, Navy, Airforce and Marines less efficient. Is this something to be welcomed by the libertarian? Yes, since with some 800 military bases in about 130 different countries, the U.S. military is an imperialistic power that has long ago over-reached Constitutional limitations. The “land of the free, home of the brave” is throwing its weight all around the world in an offensive posture. From a libertarian point of view, this country’s fighting forces are to defend us, not engage in offensive actions against other countries in every corner of the globe.


3:04 pm on December 12, 2017

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Anarcho Libertarian Arguments Regarding the Military

From: T
Sent: Monday, December 04, 2017 10:35 AM
To: Walter Block
Subject: Re: Defense and the minarchists

Walter, do you have any advice on a book or chapter that lays out the anarcho libertarian positions or private law society arguments regarding the military that I could use to demonstrate ancap moral superiority over the minarchists viewpoint or neo con positions regarding the military? Thanks, T

Dear T: Here are some readings on this matter:

Block, 2003; Cowen, 1988; De Jasay, 1989; Hoppe, 1989; Hummel, 1990; Pasour, 1981; Rothbard, 1985, 1997; Schmidtz, 1991; Sechrest, 2003, 2004A, 2004B, 2007

Block, Walter E. 2003. “National Defense and the Theory of Externalities, Public Goods and Clubs.” The Myth of National Defense: Essays on the Theory and History of Security Production, Hoppe, Hans-Hermann, ed., Auburn: Mises Institute, pp. 301-334; http://www.mises.org/etexts/defensemyth.pdf

Cowen, Tyler, ed. 1988. The Theory of Market Failure: A Critical Examination, Fairfax, VA: George Mason University Press; http://www.amazon.com/Theory-Market-Failure-Critical-Examination/dp/0913969133/ref=sr_1_1?ie=UTF8&s=books&qid=1200191409&sr=1-1

De Jasay, Anthony. 1989. Social Contract, Free Ride: A Study of the Public Goods Problem. Oxford, England: Oxford University Press; http://www.amazon.com/Social-Contract-Free-Ride-Paperbacks/dp/0198239122/ref=sr_1_1?ie=UTF8&s=books&qid=1200191531&sr=1-1

Hoppe, Hans-Hermann. 1989. “Fallacies of the Public Goods Theory and the Production of Security,” The Journal of Libertarian Studies, Vol. IX, No. 1, Winter, pp. 27-46; http://www.mises.org/journals/jls/9_1/9_1_2.pdf

Hummel, Jeffrey. 1990. “National Goods vs. Public Goods: Defense, Disarmament and Free Riders,” The Review of Austrian Economics, Vol. IV, pp. 88-122; http://www.mises.org/journals/rae/pdf/rae4_1_4.pdf

Pasour, Jr., E.C., 1981, “The Free Rider as a Basis for Government Intervention,” The Journal of Libertarian Studies, Vol. V, No. 4, Fall, pp. 453-464; http://www.mises.org/journals/jls/5_4/5_4_6.pdf

Rothbard, Murray N. 1997. The Logic of Action: Applications and Criticism from the Austrian School, Vol. II, Cheltenham, UK: Edward Elgar

Schmidtz, David. 1991. The Limits of Government: An Essay on the Public Goods Argument, Boulder Co: Westview Press

Sechrest, Larry. 2003. “Privateering and National Defense: Naval Warfare for Private Profit”, pages 239-74, The Myth of National Defense: Essays on the Theory and History of Security Production, edited by Hans-Hermann Hoppe, published by the Ludwig von Mises Institute, Auburn, Alabama, 2003.

Sechrest, Larry. 2004A. “Public Goods and Private Solutions in Maritime History.” The Quarterly Journal of Austrian Economics. Vol. 7, No. 2. Summer, 3-27.
http://www.mises.org/journals/qjae/pdf/qjae7_2_1.pdf; https://dev.mises.org/journals/qjae/pdf/qjae7_2_1.pdf

Sechrest, Larry. 2004B. “Private Provision of Public Goods: Theoretical Issues and Some Examples from Maritime History,” ICFAI Journal of Public Finance, August, Vol. II, No. 3, 45- 73; http://www.mises.org/journals/scholar/Sechrest7.pdf

Sechrest, Larry. 2007. “Privately Funded and Built U.S. Warships in the Quasi-War of 1797-1801,” The Independent Review, Summer, Vol. 12, No. 1: 101-113.


3:38 pm on December 11, 2017

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From: S
Sent: Saturday, November 25, 2017 7:26 PM
To: walterblock@business.loyno.edu
Subject: disagreements with Rothbard

Hello Mr Walter Block, my name is S. I live in Argentina and i love your ideas i just listen to your wonderful debate with mr Invictus , and you mention some articles that enunciate the divergences between you and mr Rothbard (You mention for example the agreement of voluntary slavery) I would love to read the other articles that you mention in the Q&A that develop the other point you and Rothbard disagree. when you have some time could you send me the articles you mention? If you can’t, I still love you Mighty Block . I greatly thank you for your beautiful work.

Dear S: Thanks for your kind words.

Let me just say, before I send you that material which contains my disagreements with Murray Rothbard, my friend and mentor, that I revere this man. He was a genius. Possibly, probably, in all of these disagreements I had with him, he was correct, and I was wrong. I still can’t see my way clear to that conclusion, but I’m open to having my errors being pointed out, in this or indeed any other regard. Here is the material you requested:

Block, 1998, 2003, 2007, 2009, 2011, 2014; Barnett and Block, 2005, 2005-2006, 2006A, 2006B, 2007; Block, Barnett and Salerno, 2006; Block and Callahan, 2003; Block, Klein and Hansen, 2007; Block, Futerman and Farber, 2016; Futerman, Farber and Block, 2016.

Block, Walter E. 1998. “A Libertarian Case for Free Immigration,” Journal of Libertarian Studies: An Interdisciplinary Review, Vol. 13, No. 2, summer, pp. 167-186; http://www.mises.org/journals/jls/13_2/13_2_4.pdf

Block, Walter E. 2003. “Toward a Libertarian Theory of Inalienability: A Critique of Rothbard, Barnett, Gordon, Smith, Kinsella and Epstein,” Journal of Libertarian Studies, Vol.17, No. 2, Spring, pp. 39-85; http://www.mises.org/journals/jls/17_2/17_2_3.pdf

Block, Walter E. 2007. “A Libertarian War in Afghanistan?” July 30; https://archive.lewrockwell.com/block/block80.html

Block, Walter E. 2009. “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/; http://libertarianpapers.org/2009/17-libertarian-punishment-theory-working-for-and-donating-to-the-state/#comments

Block, Walter E. 2011. “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. 2011. “The Human Body Shield” Journal of Libertarian Studies; Vol. 22 , pp. 625-630; http://mises.org/journals/jls/22_1/22_1_30.pdf

Block, Walter E. 2014. August 5. Interview with Daniel Rothschild: a critique of fractional reserve banking and of Murray N. Rothbard’s analysis of Israeli land claims; https://www.youtube.com/watch?v=q4A5hpzYb94.

Barnett, William II and Walter E. Block. 2005. “Money: Capital Good, Consumers’ Good, or (Media of) Exchange Good?” Review of Austrian Economics. 18 (2): 179-194;
http://www.gmu.edu/rae/archives/VOL18_2_2005/4_Barnett.pdf; http://www.academia.edu/1359987/Money_Capital_Good_Consumers_Good_or_Media_of_Exchange_Good

Barnett, William II, and Walter E. Block. 2005-2006. “Mises, Rothbard and Salerno on Costs.” Corporate Ownership & Control, Winter, Vol. 3, No. 2, pp. 204-206

Barnett, William II, and Walter E. Block. 2006A “Rothbard on V shaped average and
total cost curves.” Quarterly Journal of Austrian Economics, Vol. 9, No. 3, Fall, pp. 61-66; http://mises.org/journals/qjae/pdf/qjae9_3_4.pdf

Barnett, William II and Walter E. Block. 2006B. “On Hayekian Triangles.” Procesos De Mercado: Revista Europea De Economia Politica; Vol. III, No. 2, Fall, pp. 39-141; http://tinyurl.com/2zkvj7; http://mises.org/journals/scholar/block18.pdf; http://www.academia.edu/1359916/On_Hayekian_Triangles

Barnett, William II and Walter E. Block. 2007. “Saving and Investment: A Praxeological Approach.” New Perspectives on Political Economy, Vol. 3, No. 2, pp. 129 – 138;
http://pcpe.libinst.cz/nppe/3_2/nppe3_2_1.pdf;; http://www.academia.edu/1359832/Saving_and_Investment_A_Praxeological_Approach
no future goods (fn 16)

Block, Walter E., William Barnett II and Joseph Salerno. 2006. “Relationship between wealth or income and time preference is empirical, not apodictic: critique of Rothbard and Hoppe,” Review of Austrian Economics, Vol. 19, No. 2, pp. 69-80; http://dx.doi.org/10.1007/s11138-006-6094-8; http://www.gmu.edu/rae/archives/VOL19_1_2006/4-Block_Barnett_Salerno.pdf

Block, Walter E. and Gene Callahan. 2003. “Is There A Right to Immigration? A Libertarian Perspective,” Human Rights Review, Vol. 5, No. 1, October-December, pp. 46-71;

Block, Walter E., Peter Klein and Per Henrik Hansen. 2007. “The Division of Labor under Homogeneity: A Critique of Mises and Rothbard” The American Journal of Economics and Sociology, April Vol. 66 Issue 2, pp. 457-464; http://www.blackwell-synergy.com/toc/ajes/66/2;
Block, Walter E., Alan G. Futerman and Rafi Farber. 2016. “A Libertarian Approach to the Legal Status of the State of Israel.” Indonesian Journal of International and Comparative Law. Vol. 3, Issue, 2, June, pp. 435-553; (a critique of Murray Rothbard)
https://thejewishlibertarian.com/tag/the-legal-status-of-the-state-of-israel/ https://thejewishlibertarian.files.wordpress.com/2016/07/israel-rothbard-defense.pdf https://thejewishlibertarian.com/israel-vs-rothbard/

Futerman, Alan, Rafi Farber and Walter E. Block. 2016. “The Libertarian Case for Israel.” October 13; The Forward; http://forward.com/scribe/351957/tk-tk/

February 11, 2017. Walter Block’s Opponent: Augustus Invictus
7pm Holiday Inn 1350 S Dixie Hwy Coral Gables, Fl 33134
Topic: Libertarianism Yay or Nay
Is Taxation Theft (Invictus says no; Block says yes)
Privatize everything (Invictus says no; Block says yes)
Privatize highways (Invictus says no; Block says yes)
Libertarian Nuremberg trials (Invictus opposes; Block favors)
Augustus Invictus:

Walter Block vs. Augustus Invictus Live In Miami NOW

Posted by Liberty Hangout on Saturday, February 11, 2017

February 11, 2017. Miami, Florida, Walter E. Block debates Augustus Sol Invictus [mailto:augustusinvictus@gmail.com]; Augustus Sol Invictus topic: Libertarianism Yay or Nay? I want to argue against some of the sacred cows of libertarianism. And I think it’s safe to say that they are sacred cows BECAUSE of Block, Rothbard, and company – and so Professor Block would be the *perfect* person to promote these positions – and the perfect person, me, to argue against on these positions.
1. ‘Taxation is Theft.’ I will make the case that taxation is not theft and is necessary for a functioning government. I will likely rely on Hobbes for this argument.
2. The nature of law. Block and many Libertarians seem to be under the impression that law is a voluntary, consensual agreement as to the rules that would benefit society. I am of the belief that law is a rule issued by the sovereign and backed by the threat of force. This is the position of John Austin, a legal philosopher, whose position is my own.
3. The Nuremberg Trials. This one I could argue in one of two ways: (A) The Nuremberg Trials, i.e., the trial of the Nazi officer’s, were a farce and a grave injustice that has resulted in the atrocities of the present global order. (B) Block’s conception of a type of ‘Libertarian Nuremberg Trial’ for culpable government employees is an equally bad idea.
4. ‘Privatization of everything.’ I am in opposition to this concept at my very core. This is why I cannot be an AnCap, and it is why I meet so much resistance in libertarian circles.
5. Highway privatization. A minor subject compared to the other four, but certainly one that would stir controversy, as this is, again, one of the sacred cows of libertarianism.”

Two Debates in Florida in February

Vs. Invictus (full)


6:06 pm on December 8, 2017

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Tax Evader?

From: T
Sent: Thursday, December 07, 2017 8:48 AM
To: walterblock@business.loyno.edu
Subject: Defending III

Dr. Block: Will “Defending III” finally include a chapter devoted to the tax evader???

Dear T: Yes. Here are the first few words of this chapter, The Tax Evader (1061 words, so far)

“This chapter is dedicated to the memory of Vivien Kellems, Irwin Schiff and to all others savaged by a criminal gang for not forking over funds they had never agreed to pay in the first place.

“Initially, I labeled this chapter: ‘the tax cheat.’ But, in the process of writing it, I realized that this is only the way the government sees the matter. Those who do not pay their taxes due are ‘cheaters.’ But that is not at all how I look at the matter. Hence, the substitution of the more neutral term, ‘evader.’ ‘Non-payer’ might even be a better, more accurate, nomenclature.”


1:20 pm on December 7, 2017

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Defending the Undefendable, Mises University, the AERC

From: J
Sent: Tuesday, November 28, 2017 10:26 PM
To: walterblock@business.loyno.edu
Subject: Your Defense of the Undefendable

Hi Dr. Block! I finished reading your book, Defending the Undefendable, earlier this evening and I just wanted to say that, despite having had the urge to recoil in more than one occasion, I found myself agreeing with your analysis. Your chapters on the (non-government) counterfeiter, the curmudgeon, and the speculator struck me particularly as profound, although I found all other chapters to contain valuable insight into practical economic services as seen through the lens of the Austrian. I plan to attend the Mises University Summer Fellowship in order to further my knowledge of Austrian economics and to improve my prospects of doing research on that basis at a graduate program. Will you by any chance be there? Best regards, J

Dear J: Will I be there? Will I be there? I most certainly will be there, if I am invited back. I expect I will once again be on the program, since I’ve been a speaker at pretty much every Mises University (https://mises.org/events/mises-university-2017) since it started many years ago. Indeed, it is my second favorite gathering in the entire year, right after the AERC (https://mises.org/events/aerc-2018) which I suggest you attend as well. Thanks for your kind words about that book of mine. Hey, if you liked Defending I, you might also like Defending II: Block, Walter E. 2013. Defending the Undefendable II: Freedom in all realms; Terra Libertas Publishing House; isbn: 978-1-908089-37-3; http://store.mises.org/Defending-the-Undefendable-2-P10932.aspx; http://www.amazon.com/Defending-Undefendable-II-Freedom-Realms/dp/1908089377/ref=sr_1_1?ie=UTF8&qid=1379098357&sr=8-1&keywords=freedom+in+all+realms; http://www.amazon.com/Defending-Undefendable-II-Freedom-Realms/dp/1908089377/ref=sr_1_2?s=books&ie=UTF8&qid=1380679730&sr=1-2; isbn: 9781908089373; http://terralibertas.com/products/defending-the-undefendable-ii-freedom-in-all-realms-hardcover; https://www.lewrockwell.com/2013/12/robert-wenzel/top-book-picks-of-2013/; http://www.amazon.co.uk/Defending-Undefendable-II-Freedom-Realms/dp/1908089377/ref=sr_1_1?s=books&ie=UTF8&qid=1387741833&sr=1-1&keywords=Defending+the+Undefendable+II%3A+Freedom+in+All+Realms; http://www.librarialibertas.com/economie/defending-the-undefendable-ii-freedom-in-all-realms-hardcover.html; http://mises.org/daily/6624/Walter-Block-Is-Still-Defending-the-Undefendable; https://www.lewrockwell.com/2014/01/mark-thornton/still-defending-the-undefendable/; http://mises.org/journals/qjae/pdf/qjae17_1_6.pdf

I’m now working on Defending III, so you’ll have to wait a bit for that book.


12:19 pm on December 6, 2017

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From: M
Sent: Sunday, December 03, 2017 12:36 AM
To: Walter Block
Subject: economics of banking
Hi Walter, Can you recommend a good book on the economics of banking. I have a basic understanding of fractional reserve banking but I just want to clarify my thinking on it. Specifically – if I go a bank or credit union and take out a mortgage to buy a house, where does the bank get the money to lend me? I used to think that if the bank took in, say, $1,000,000 in deposits and it had a 10% reserve requirement, it could lend out $900,000. But I’ve read something recently that the bank just creates the money it lends you out of thin air. If so, what is your take on it? Thanks, M

Dear M: Yes, here are some recommendations:

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

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

Rothbard, Murray N. 1963. America’s Great Depression. Princeton, N.J.: D. Van Nostrand Co. Reissued by Nash Publishing Co., Los Angeles in 1972 with introduction to the 2nd Edition. Revised edition, New York University Press, 1975. New York: Richardson and Snyder, 1983.
Fundamental study, showing application of Austrian business cycle theory to the U.S. Depression of October 1929 and following. Emphasizes the role of Herbert Hoover as precursor of the New Deal as well as business and banking interests behind interventionism.

Rothbard, M. 1963. America’s Great Depression. Kansas City: Sheed Andrews.

Rothbard, Murray N. 1983. The Mystery of Banking. New York: Richardson and Snyder.
A presentation in form suitable for an elementary textbook of Rothbard’s views on money and banking. He argues for the pure gold standard and 100 % reserve banking. Much historical material is presented. http://mises.org/daily/3116; http://mises.org/Books/mysteryofbanking.pdf

Here’s a biblio on fractional reserve banking:

I. Anti Fractional reserve banking frb::

Baxendale (2010) is a report on a series of interview which demonstrate that the common man is ignorant of banking, not to mention the fractional reserve aspects of it: Baxendale, Toby. 2010. “Public attitudes to banking.” June 15; http://www.cobdencentre.org/2010/06/public-attitudes-to-banking/

Bagus, 2003; Bagus, Howden and Block, 2013; Barnett and Block, 2005, 2008, 2009; Baxendale, 2010; Block, 2008; Block and Caplan, 2008; Block and Garschina, 1996; Block and Humphries, 2008; Block and Posner, 2008; Davidson, 2008; Davidson and Block, 2011; Hanke, 2008; Hazlitt, 1979; Hollenbeck, 2013, 2014; Hoppe, 1994; Hoppe, Hulsmann and Block, 1998; Howden, 2013; Huerta de Soto, 1995, 1998, 2001, 2006, 2010; Hulsmann, 1996, 2000, 2002a, 2002b, 2003, 2008; Murphy, 2010; North, 2009; Polleit, 2010; Reisman, 1996, 2009; Rothbard, 1975; 1990, 1991, 1993; Salerno, 2010A, 2010B, 2011.

Bagus, Philipp. 2003, ‘The Commons and the Tragedy of Banking’, November 12, http://mises.org/story/1373

Bagus, Philipp, David Howden and Walter E. Block. 2013. “Deposits, Loans and Banking: Clarifying the Debate,” American Journal of Economics and Sociology, Volume 72, Issue 3, pages 627–644, July; http://onlinelibrary.wiley.com/doi/10.1111/ajes.12023/abstract; http://bastiat.mises.org/2013/07/fractional-reserve-banking-paper/

Barnett, William II and Walter E. Block. 2005. “In defense of fiduciary media— a comment; or, what’s wrong with “clown” or play money?” Quarterly Journal of Austrian Economics; Vol. 8, No. 2, Summer, pp. 55-69; http://mises.org/journals/qjae/pdf/qjae8_2_4.pdf

Barnett, William and Walter E. Block. 2008. “Time deposits, dimensions and fraud,” Journal of Business Ethics; www.WalterBlock.com/publications; http://www.springerlink.com/content/100281/?k=walter+block&sortorder=asc&v=condensed&o=20; www.WalterBlock.com/publications

Barnett, William and Walter E. Block. 2009. “Financial Intermediaries, the Intertemporal-Carry Trade, and Austrian Business Cycles; or; Crash and Carry: Can Fraudulent Time deposits lead to an Austrian Business Cycle? Yes.” Journal Etica e Politica / Ethics & Politics; Vol. XI, No. 1, pp. 455-469; http://www2.units.it/~etica/2009_1/BARNETT_BLOCK.pdf

Baxendale, Tony. 2010. Free Banking, the Balance Sheet and Contract Law Approach; March 15; http://www.cobdencentre.org/2010/03/free-banking-the-balance-sheet-and-contract-law-approach/

Block, Walter and Bryan Caplan. 2008. “Walter E. Block versus Bryan Caplan on Fractional Reserve Banking.” Nov 1; https://www.lewrockwell.com/block/block110.html

Block, Walter and Kenneth M. Garschina. 1996. “Hayek, Business Cycles and Fractional Reserve Banking: Continuing the De-Homoginization Process,” Review of Austrian Economics, Vol. 9, No. 1, 1995, pp. 77-94; http://www.mises.org/journals/rae/pdf/rae9_1_3.pdf.

Block, Walter and John Humphries. 2008. “Humphries vs Block on fractional reserve banking.” November 17; http://alsblog.wordpress.com/2008/11/17/fractional-reserve-banking/

Block, Walter versus Eric Posner. 2008. “Posner vs. Block on fractional reserve banking.” November, 29; https://www.lewrockwell.com/block/block114.html

Davidson, Laura. 2008. “Fractional Reserve Banking Is Indeed Fraudulent,” November 17;

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.springerlink.com/content/j76323752648720g/; http://dx.doi.org/10.1007/s10551-010-0590-2; 10.1007/s10551-010-0590-2

Hanke, Steve. 2008. “Banking Crises: Plus Ça Change…” GlobeAsia, November, pp. 168-169; http://www.freemarketfoundation.com/Hanke%5CBanking%20Crises–Plus%20%C3%87a%20Change,%20November%202008.pdf

Hazlitt, Henry. 1979. “Gold versus Fractional Reserves Part 1 .” The Freeman. May;

Hollenback, Frank. 2013. “Insuring Deposits, Ensuring Insolvency.” July 24;

Hollenback, Frank. 2014. “The Fraud in Fractional Reserve Banking.” November 26; http://us2.campaign-archive2.com/?u=7e6cc2f6072b7ebfaa847047f&id=189c14aa12&e=53fc31c1bb

Hoppe, Hans-Hermann. 1994. “How is Fiat Money Possible? or, The Devolution of Money and Credit,” Review of Austrian Economics, 7(2), pp. 49-74.

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

Howden, David. 2013. “A Simple Math Question for Bankers.” December 28;
http://mises.us2.list-manage1.com/track/click?u=7e6cc2f6072b7ebfaa847047f&id=b10182ff5e&e=cb339c58df; http://www.economicpolicyjournal.com/2013/12/the-best-critique-i-have-ever-read.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29

Huerta de Soto, Jesús. 1995. “A Critical Analysis of Central Banks and Fractional-Reserve Free Banking from the Austrian Perspective,” Review of Austrian Economics, 8(2), pp. 25-38.

Huerta de Soto, Jesús. 1998, ‘A Critical Note on Fractional-Reserve Free Banking’, The Quarterly Journal of Austrian Economics 1(4), 25-49.

Huerta de Soto, Jesús. 2001. “A Critical Note on Fractional Reserve Free Banking,” The Quarterly Journal of Austrian Economics, Vol. 1, No. 4, Fall, pp. 34-35

Huerta de Soto, Jesús. 2006. Money, Bank Credit and Economic Cycles (Ludwig von Mises Institute, Auburn AL.)

Huerta de Soto, Jesús. 2010. “Economic Recessions, Banking Reform, and the Future of Capitalism.” http://mises.org/daily/4817

Hülsmann, Jorg Guido. 1996, ‘Free Banking and the Free Bankers’, Review of Austrian Economics 9(1), 3-53.

Hulsmann, Jorg Guido. 2000. “Banks Cannot Create Money”, The Independent Review: A Journal of Political Economy, vol. 5, no. 1, summer, 101—110; http://www.independent.org/pdf/tir/tir_05_1_hulsman.pdf

Hulsmann, Jorg Guido. 2002a. “Free Banking and the Free Bankers.” Review of Austrian Economics. Vol. 9, No. 1. pp. 3-53; http://www.mises.org/journals/rae/pdf/rae9_1_1.pdf

Hulsmann, Jorg Guido. 2002b. “Free Banking Fractional Reserves: Reply to Pascal Salin.” Review of Austrian Economics, Vol. 1, No. 3.

Hulsmann, Jorg Guido. 2003. “Has Fractional-Reserve Banking Really Passed the Market Test?,” Independent Review 7/3, Winter, 399-422. http://www.independent.org/publications/tir/article.asp?a=90

Hülsmann, Jorg Guido. 2008. The Ethics of Money Production Auburn AL: Ludwig von Mises Institute

Murphy, Robert P. 2011. The Fractional-Reserve Banking Question.” June 14; http://mises.org/daily/4499

North, Gary. 2009. “What Is Money? Part 5: Fractional Reserve Banking.” October 10;

Polleit, Thorsten. 2010. “The Faults of Fractional-Reserve Banking.” December 23;

Reisman, George. 1996. Capitalism. Ottawa, Il.: Jameson Books; pp. 954-963

Reisman, George. 2009. “A Pro-Free-Market Program for Economic Recovery,” November 20; http://mises.org/daily/3870

Rothbard, Murray N. [1963] 1975. America’s Great Depression (Sheed and Ward, Kansas City).

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

Rothbard, Murray N. [1962] 1991. “The Case for a 100 Percent Gold Dollar,” In Search of a Monetary Constitution, Leland B. Yeager, ed., Cambridge, MA: Harvard University Press, pp. 94-136, and Auburn, AL: Ludwig von Mises Institute. See also “The Logic of Action One” pp. 364-384; http://mises.org/story/1829; http://mises.org/rothbard/100percent.pdf

Rothbard, Murray N. [1962] 1993. Man, Economy, and State. Ludwig von Mises Institute, Auburn, AL

Rothbard, Murray N. 1988. The Myth of Free Banking in Scotland, Review of Austrian Economics; http://mises.org/journals/rae/pdf/RAE2_1_15.pdf

Salerno, Joseph T. 2010A. Money, Sound and Unsound. Auburn, Ludwig von Mises Institute

Salerno, Joseph T. 2010B. “White contra Mises on Fiduciary Media,” May 14;

Joseph T. Salerno. 2011. “Dr. Joseph Salerno Explains Everything You Ever Wanted to Know About Money (But Were Afraid to Ask)”, The Daily Bell, July 3;

Dr. Joseph Salerno Explains Everything You Ever Wanted to Know About Money (But Were Afraid to Ask)

II. pro frb:

Horwitz, 2010; Horwitz and Bodenhorn, 1994; McElroy, 2013, 2014; Rozeff, 2010; Sechrest, 1987, 1989a, 1989b, 1991a, 1991b, 1993, 2007; Selgin, 1994, 1998, 2007A, 2007B, 2007C; Selgin and White, 1996; White, 1992, 1995, 1999, 2003, 2007A, 2007B, 2007C


Horwitz, Steven and Howard Bodenhorn. 1994. “A Property Rights Approach to Free Banking,” Journal des Economistes et des Etudes Humaines, 5 (4), December, pp. 505-519.

Horwitz, Steven. 2010. “My Teenage Daughter Gets Fractional Reserve Banking.” January 11; http://www.coordinationproblem.org/2010/01/my-teenage-daughter-gets-fractional-reserve-banking.html

McElroy, Wendy. 2013. “Fractional-Reserve Banking: Not Fraud, Not Folly.” May 13;

McElroy, Wendy. 2014. “Fractional-Reserve Banking is Not Fraud.” November 13;

Fractional-Reserve Banking is Not Fraud

Rozeff, Michael S. 2010. “Rothbard on Fractional Reserve Banking: A Critique,”
The Independent Review, Vol. 14, No. 4, Spring, pp. 497-512

Sechrest, Larry. 1987. “White’s Free Banking Thesis: A Case of Mistaken Identity,” Review of Austrian Economics, November, Vol. II, 247-57.

Sechrest, Larry. 1989a. Review of George Selgin’s The Theory of Free Banking, Journal of Economics, Vol. XV, 196-98.

Sechrest, Larry. 1989b. “Free Banking vs. Central Banking: A Geometrical Analysis,” South African Journal of Economic and Management Sciences, November, Vol. II, 83-97.

Sechrest, Larry. 1991a. “Free Banking in Scotland: A Dissenting View,” Cato Journal, Winter, Vol. 10, No. 3, 799-808.

Sechrest, Larry. 1991b. “Banking, Central and Free”, pages 145-51, Magill’s Survey of Social Science: Economics, Salem Press.

Sechrest, Larry. 1993. Free Banking: Theory, History, and a Laissez-Faire Model, Westport, Connecticut: Quorum Books.

Sechrest, Larry. 2007. “Free Banking Basics,” The Free Radical, July/August, Vol. 76, 40-41.

Selgin, George. 1994. “Free Banking and Monetary Control.” Economic Journal 104: 1449-59.

Selgin, George. 1998. The Theory of Free Banking: Money Supply under Competitive Note Issue. Totowa, New Jersey: Rowman & Littlefield

Selgin, George. 2000. “Should We Let Banks Create Money?” The Independent Review, v.V, n.1, Summer, pp. 93–100

Selgin, George. 2007A. “Is fractional-reserve banking inflationary?” January 23. Free Market News Network; http://www.fmnn.com/Analysis/241/6794/banking.asp?nid=6794&wid=241

Selgin, George. 2007B. “Notes on free banking: fractional reserves and economic development, part I” February 14. Free Market News Network; http://www.fmnn.com/Analysis/241/6939/notes.asp?nid=6939&wid=241

Selgin, George. 2007C. “Notes on free banking: fractional reserves and economic development, part II” February 15. Free Market News Network; http://www.fmnn.com/Analysis/241/6949/notes.asp?nid=6949&wid=241

Selgin, George A., and White, Lawrence H. 1996. “In Defense of Fiduciary Media – or, We are Not Devo(lutionists), We are Misesians!,” Review of Austrian Economics, Vol. 9, No. 2, pp. 83-107; http://mises.org/journals/rae/pdf/rae9_2_5.pdf

White, Lawrence H. 1992. Competition and Currency: Essays on Free Banking and Money. New York: New York University Press

White, Lawrence H. 1995. Free Banking in Britain: Theory, Experience, and Debate, 1800-1845, 2nd ed. London: Institute of Economic Affairs

White, Lawrence H. 1999. The Theory of Monetary Institutions. Oxford: Basil Blackwell

White, Lawrence H. 2003. “Accounting for Fractional-Reserve Banknotes and Deposits,” Independent Review 7/3, Winter, 423-41. http://www.independent.org/publications/tir/article.asp?a=91

White, Lawrence H. 2007A. “Huerta de Soto’s Case Against Fractional Reserves,” Free-Market News Network (08 Jan) http://www.freemarketnews.com/Analysis/240/6709/case.asp?wid=240&nid=6709

White, Lawrence H. 2007B. “Huerta de Soto’s View of the History of Banking,” Free-Market News Network (30 Jan) http://www.freemarketnews.com/Analysis/240/6827/soto.asp?wid=240&nid=6827

White, Lawrence H. 2007C. “Huerta de Soto on Attempts to Justify Fractional-Reserve Banking,” Free-Market News Network (05 Feb) http://www.freemarketnews.com/Analysis/240/6877/soto.asp?wid=240&nid=6877

III. Larry White and I disagree as to how to categorize these, so, at his suggestion, I’m creating a third or “ambivalent” section

Ambivalent. These are of interest but there is some question as to on which side they lie:

Callahan, 2003; van den Hauwe, 2006, 2008; Williams, 1984.

Callahan, Gene. 2003. “The Libertarian Case Against Fractional-Reserve Banking,” Anti-State.com, July 22

van den Hauwe, Ludwig. 2006. “The Uneasy Case for Fractional-Reserve Free Banking, Procesos de Mercado, Vol. III, No. 2, pp143-96;

van den Hauwe, Ludwig. 2008, forthcoming. “Credit Expansion, the Prisoner´s Dilemma, and Free Banking as Mechanism Design, Procesos de Mercado,

Williams, Jeffrey C. 1984. “Fractional Reserve Banking in Grain,” Journal of Money Credit and Banking. 16 (4): pp. 488-496


3:53 pm on December 5, 2017

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John Brown, Racism, Slavery, Malcolm X, Martin Luther King

Malcolm X, during his most (anti-white) racist days, was asked, “Would any white man qualify to be a member of your group.” He said “Yes, John Brown.” (paraphrase).

I’m a big fan of Malcolm X’s. I once heard him lecture at Brooklyn College. He was absolutely riveting. I never heard a more compelling public speaker than him. He was instrumental in the “black is beautiful” movement at its very beginnnig. Famously, he urged his followers to “throw away those hair staighteners,” and stop trying to look white. He supported free enterprise. He started up all sorts of commercial Shabazz businesses: restaurants, laundries, bakeries, etc. He preached individual initiative. I only wish he had lived long enough to realize that he had strong libertarian tendencies, and explicitly embrace our philosophy.

In my view, he stands in sharp and positive contrast to that even more famous black socialist plagiarist: Martin Luther King, Jr. I refuse to place “Dr.” in front of his name, since it is clear that his Ph.D. dissertation was plagiarized. He preached welfarism, unionism, socialism.


4:24 pm on December 3, 2017

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Converting the Heathen to the One True Faith: Libertarianism; Women Are Welcome!

From: T
Sent: Thursday, November 30, 2017 11:03 AM
To: Walter Block
Subject: Defense and the minarchists

Walter: I have had incredible success helping high school students understand anarcho capitalism and it’s consistent application leads to a private law society. The same cannot be held for working with adults and trying to bring them to the consistent mindset of a private law society. The pushback I get is always on police or defense and especially the need that these adults see as in needing a state controlled military. I can get almost most adults to see that private police would be better, private courts would be better, and arbitration is the way to go. The welfare state is so easy to show its errors, student and adults alike seem to get to privatization quickly. The state created poverty as we know it. For my high school students, they have known War their entire lives and yet the vast majority have no idea the military is engaged anywhere in the world, they are so oblivious to what is happening, but after a short time they are often advocating an end to the warfare state. The warfare state has become so engrained in adults that they believe in the need to go “kill the terrrorists, and keep the (fill in the blank country) from invading the US by having a large military and thus need statism to support it. I have used the argument of the NAP and it’s not acceptable to kill innocent people. I have used legal arguments of a trial by jury of peers against those who violate private property rights and that does not seem to correct in their mind the need for a military, and the state to run it. I have tried Ron Paul’s argument that we have military bases in over 139 countries and blow back with no success. Of course I have argued against taxation to support the military leviathan. I have tried and tried but the minarchists who believes in the need for a strong military is basically a socialist and they don’t like that argumentation technique either. What do you suggest to help me be a better advocate for a private law society and promote peace? T

Dear T: I think you are doing better than many libertarians in promoting our philosophy. Hey, even Ayn Rand, Ron Paul, Murray Rothbard, Ludwig von Mises, Robert Nozick, Friedrich Hayek, Milton Friedman and other high profile libertarians have not succeeded in turning our society in that direction, although they have converted vast number of people to our cause. Why have all of us, together, failed? Why isn’t Ron Paul president right now, and we have an entirely free society? Surely, our cause is righteous, pragmatic just, and sensible. I think the explanation is sociobiology: the overwhelming number of people are hard wired to accept socialism and fascism. I try to explain this here: https://www.youtube.com/watch?v=R6b2HBJ5wLg

My bottom line advice to you, and others of us suffering from this malady: keep up the good work. Make only marginal changes. We are doing a pretty good job, as it is.

Here’s one possible marginal change. According to the Briggs-Myers Personality Type analysis, we libertarians — virtually all men — are mostly bunched up in one category, representative of a very small percentage of the overall population. If we continue on our present course, we thus confront a very low ceiling. There is even, I am given to understand, a mating – dating initiative based on this material, which indicates which groups of women, in which categories, are compatible with groups of men in our category. So, one possible practice might be to pitch our message to these other groups. If successful, and I have no idea as to the merits of this suggestion, this would at one fell swoop increase our gross numbers, and, also, bring more women into the libertarian movement, something that most present members would welcome with alacrity.


1:41 pm on December 2, 2017

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