Yves here. Perhaps I don’t hang out with enough libertarians, but my impression is that Robert Nozick does not occupy the same lofty position as, say, Milton Friedman, Mises, the near-libertarian Jospeh Schumpeter, or (gah) Ayn Rand.
Murphy’s useful shellacking of Nozick seems if anything to considerably understate both the pervasiveness of coercion and sharp practices in “voluntary” transactions....
This analysis can be viewed as an exploration of the concept of economic rent within the context of libertarianism's support for wealth inequality. The author uses Wilt Chamberlain's earnings as a case study to demonstrate that much of his income is superfluous to the demands of allocative efficiency and justice. By presenting this analysis in relation to Monbiot's critique of libertarianism, the author reinforces the notion that libertarianism may be a self-serving ideology that justifies unequ...