Ron Paul Explains the Importance of Mises and the Austrian School

by | Nov 22, 2007 | Stress Blog | 3 comments

Mises and Austrian Economics: A Personal View by Ron Paul [.pdf]

The economist’s approval of the market for purely utilitarian reasons actually becomes a more ‘objective’ analysis if not approached from a natural rights standpoint. But when combined with a natural-rights philosophy, it is even more powerful. No choice must be made. The utilitarian argument does not exclude the belief that life and liberty originates with the Creator. When they are added together they become doubly important.

When one argues for the free market on utilitarian grounds, one starts with particular actions by the individual. In starting with a natural rights argument the ‘a priori’ becomes ‘the gift of life and liberty’ as natural or God-given.

The utilitarians may be neutral or antagonistic regarding the origins of life and liberty, but this in no way weakens their explanation of the technical advantages of a free economic system. However, those who accept a natural rights philosophy have no choice whatsoever but to accept laissez-faire capitalism.

Thanks to Allan Holm for the link.

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