Monday, November 2, 2015

Richard Thaler Reacts to Murray Rothbard?

Lifted from the comments of the Is Richard Thaler Serious? post:
Thaler: "The argument is that government is a monopoly with coercive power..."

There was a time that only libertarians (and, perhaps more precisely, Rothbardians) talked like this. Clearly, they are reading the book. That they have to address this point is progress.


  1. Isn't that the standard definition you hear on the first day of a Poly Sci 101 course?

  2. Yes it's coercive force. There is a role for that in upholding the law.

  3. What "law" Wags? Property taxes? Income taxes? Wealth redistribution? Drug laws? EPA Regulations? Monetary policy monopoly? Eminent domain? Obamacare? Is this the necessary coercive force you mean?