Document Type

Article

Publication Date

4-1-2008

Publication Title

Journal of Private Enterprise

Volume

24

Issue Number

1

First Page

119

Last Page

130

Abstract

Many libertarians, especially those inclined toward the Austrian school of economics, counter the market-failure justification for government intervention by denying any legitimacy whatsoever to the neoclassical concept of efficiency. But properly interpreted, neoclassical efficiency, rather than providing an open-ended justification for all sorts of government intervention, provides one of the most powerful and comprehensive objections to government coercion in general.

Comments

Reprinted with permission of The Journal of Private Enterprise.

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