Yep he's got you there!
Anyway;
My thoughts on slavery are that if you sell your self into slavery you are not a slave; you have merely entered into a rather onerous employment contract. You cannot include your future offspring in the deal as children are not property.
Enslaving by force I would have thought is not permitted even by the most extravagant libertarian.
I have continued reading this book ( skipping over his constant crude mischaracterisations of socialism) with interest. I must admit to difficulty in understanding why the author is so idealogically committed to the market as the absolute and only judge of human endevour. To me, the market is a natural force; an extremely complex system of counterbalancing forces that has a tendency to self regulate. But to claim that it always creates the best outcome for society seems willfully ignorant.
An analogy: the human body is a similarly complex network of systems that constantly feedback into each other. By and large it regulates itself and maintains equilibrium.
But when the human body succumbs to disease we don't stand back and declare that 'the body knows best' We intervene when it becomes obvious that the body is failing to address a problem.
The market was made for man. It should not be master.
Several of you have said in this debate, with reference to child labour regulations, that " if a child wants to work it should be free to". But we are not talking about teenagers earning spending money here. Child labour regulations were brought in after the industrial revolution, when unbridled capitalism amongst the factories and mills of northern England had driven wages for the "hands" below subsistence level. The children of these working families "wanted" the "freedom" to work, as the alternative was hunger. This to me seems a poor kind of freedom.
You all seem to agree that to force a child to work against his will was wrong. But what if the economic system you have established leaves a child with this kind of choice? Where is the freedom for this child? Work or starve?
Sadly there are many children in the world today faced with this choice. But god forbid we should interfere with the sacred motions of the market.
I feel about the market a similar way that I feel about government: when it ceases to serve our purpose we may freely discard it in favor of a better system.
The author has many valid criticisms of large government.
However, am I alone in noticing a tendency amongst company's to join together in ever larger multinational corporations. In many industries there are 3-4 main players offering roughly the same range of products for the same price, and this tends to lessen the benefits of competition for the consumer. And even when the customer benefits, the suppliers don't.
Large companies suffer many of the same faults as large governments: a tendency to seek nothing but a continuation of their own power. We would be in danger of replacing one leviathan with several smaller beasts.
Lastly, DPR, you say that you would trust a private security force, whose wages you pay, to defend your interests better than a state run police force. With all due respect, that's kind of the problem with private police forces! I have difficulty seeing how such a system could work peacefully to resolve disputes.
If I assault my neighbor, who's police force deals with the complaint? His or mine? Or do we both have the same one, being neighbors.
If I am paying a private force, do they take my side automatically. Or do they arrest me if I do something wrong?
I'm genuinely interested in how it is proposed this will work.
Ninthly and finally, none of this free marketry addresses the problem of how all the economies of the world are going to continue growing indefinitely on a planet of finite resources. This is something that noone really wants to deal with, and the free market is supremely unfitted to face.
Some good points ghost, and thanks for not taking offense when the author criticizes your views.
An analogy: the human body is a similarly complex network of systems that constantly feedback into each other. By and large it regulates itself and maintains equilibrium.
But when the human body succumbs to disease we don't stand back and declare that 'the body knows best' We intervene when it becomes obvious that the body is failing to address a problem.
This gave me pause, because I can see your point. I think I see where your analogy breaks down though. There are no competing interests within your self. You are a unit, an indivisible will or being. The choices you make to achieve your ends are yours alone. If your body is ailing and you take medicine, the outcome is your responsibility. Human civilization on the other hand is made up of many beings, each with their own interests. What one perceives as good, another may perceive as bad.
The market was made for man. It should not be master.
As described in section 2 of the reading, the market is not yet another policy prescription enforced by government, it is the absence of such force. It is the absence of one party imposing their view of good and bad on another. So, the market is not made, it emerges from the multitude of voluntary interactions between individuals.
Several of you have said in this debate, with reference to child labour regulations, that " if a child wants to work it should be free to". But we are not talking about teenagers earning spending money here. Child labour regulations were brought in after the industrial revolution, when unbridled capitalism amongst the factories and mills of northern England had driven wages for the "hands" below subsistence level. The children of these working families "wanted" the "freedom" to work, as the alternative was hunger. This to me seems a poor kind of freedom.
You all seem to agree that to force a child to work against his will was wrong. But what if the economic system you have established leaves a child with this kind of choice? Where is the freedom for this child? Work or starve?
Sadly there are many children in the world today faced with this choice. But god forbid we should interfere with the sacred motions of the market.
I'm not sure how we disagree here. If the options available to a person are work or starve, why would you take away the work option? If people are voluntarily choosing to work in a factory under terrible conditions, it means the alternatives available to them are even worse. That work is an opportunity for them to better themselves. Child labour regulations only hampered the development and expansion of the industries that were providing these opportunities.
Had they been allowed to develop freely, only under the constrains of supply, demand and property rights, they would have had to provide a safe work environment for their employees, if that's what the employees wanted. Let me give you a quick example. Nike and Reebok both have shoe factories in the same city. All of their resources and external conditions are effectively identical. The only thing they can vary is the quality of the work environment for their employees. Nike chooses to spend $1 per man-hour maintaining an improved work environment for its employees, while Reebok keeps that dollar as profit. Reebok will quickly find itself unable to attract the employee base it needs to produce its shoes as Nike takes its employees and market share. So, Reebok, instead of improving the work conditions, simply passes the extra $1 per hour on to their employees. Now we are seeing the market at work. Employees are now faced with the option of a safe work environment, or an extra dollar per hour. Some will choose safety while others will choose the extra pay.
And this is exactly what has happened eventually, where now employers do all they can to attract good employees away from their competitors.
The author has many valid criticisms of large government.
However, am I alone in noticing a tendency amongst company's to join together in ever larger multinational corporations. In many industries there are 3-4 main players offering roughly the same range of products for the same price, and this tends to lessen the benefits of competition for the consumer. And even when the customer benefits, the suppliers don't.
Large companies suffer many of the same faults as large governments: a tendency to seek nothing but a continuation of their own power. We would be in danger of replacing one leviathan with several smaller beasts.
I have also noticed this tendency. The people who run corporations, heads of state, the person selling you food, you, me and every human being are all fallible and capable of using power to dominate other people. Liberty is not a pill that makes men angels. What it does do is limit the extent to which evil can be expressed in the world. Right now, in any given geographic area, we have a monopoly on many of the most vital social institutions that is maintained through violence. If voluntary organizations consolidate their power and turn on their customers and start stealing from them, putting them in cages, killing them, spying on them and telling them what they can and can't do, well then we're back to where we started, the present day state. But, if I am correct, and the pressure for those firms to compete with one another for our favor leads them to serve us, then we can have freedom and prosperity the likes of which the world has never known.
Lastly, DPR, you say that you would trust a private security force, whose wages you pay, to defend your interests better than a state run police force. With all due respect, that's kind of the problem with private police forces! I have difficulty seeing how such a system could work peacefully to resolve disputes.
If I assault my neighbor, who's police force deals with the complaint? His or mine? Or do we both have the same one, being neighbors.
If I am paying a private force, do they take my side automatically. Or do they arrest me if I do something wrong?
I'm genuinely interested in how it is proposed this will work.
Maybe we can read this essay next, but check out Chaos Theory by Robert Murphy. He speculates how a free market in security services might organize itself, but his most important point is that no one knows ahead of time how an industry will organize. The security industry has been insulated from market conditions for so long and is so out of touch with the needs of its customers, that I suspect it would be unrecognizable after a transition to its optimal form. There are ten thousand questions that we could muse about similar to the one you posed, but the point is that, if we do our best to adhere to the non-aggression principle, then we can quickly move in the right direction without having to know ahead of time exactly how the final form of such an institution would look.
Ninthly and finally, none of this free marketry addresses the problem of how all the economies of the world are going to continue growing indefinitely on a planet of finite resources. This is something that noone really wants to deal with, and the free market is supremely unfitted to face.
This is where the institution of private property and markets really shine. Markets curb unsustainable growth through the price mechanism. As a needed resource is depleted, its supply drops and, assuming constant or rising demand, its price will rise. Rising prices force people to consume LESS of the resource and save more of it. Private property also incentivizes people to maximize the value of it. People tend to preserve and improve their land and capital. Free enterprise and private property, when honored, are an environmentalists dream. These institutions maximize the efficiency with which scarce resources are used to satisfy people's desires, and have natural rationing mechanisms built in to keep people from over consuming. If we ever get into some economic theory in this club, we can talk about the concept of the evenly rotating economy, which really drives the point home how only a free society can ever have a hope at sustainability.
to claim that it always creates the best outcome for society seems willfully ignorant.
I can assure you that I am not willfully ignorant. I have a very open mind and if an argument that can stand up to reason and be shown to accurately describe reality is presented to me, then I would gladly change my mind. My views have been forged by a search for the truth that has lasted my entire adult life and continues to this day. I started this club because I think the pursuit of truth is one of the most noble human endeavors. Debating these issues is critical for us to construct a world-view that is grounded in reason and can guide us forward. Assuming great success for Silk Road, how easily could it become another blood thirsty cartel seeking profit at all costs? We must maintain our integrity and be true to our principles, the opportunity to make a lasting difference is too great not to.