Not a normal answer man segment since this was not an unsolicited query, but rather from a private discussion with some libertarian friends.
We were discussing Hedge fund ordered to pay bonus to trader who made 97% of its revenues. In this case a London trading firm indicated the trader would likely get a discretionary bonus if he hit a $10M target; he ended up far exceeding this and making 97% of its revenues that year.
Still, the boss told him he would not give him a bonus because they were not happy with negative publicity from a dispute with the SEC from previous employment activities. He sued and one. I said ULTIAAO, “unlibertarian things I almost approve of.” One friend disagreed, saying the contract said the bonus was discretionary so that settles it. [continue reading…]
Moreover, as noted in “A Libertarian Theory of Contract” (ch. 9), n.1, property rights can be conceived of not as a right between a human actor and an owned object, but rather as a right as between human actors, but with respect to particular (owned) resources. [continue reading…]
Sheldon Richman opened my naive eyes to many ugly truths about the US Constitution. 1 His great book, America’s Counter-Revolution: The Constitution Revisited (Griffin & Lash: Ann Arbor, Michigan, 2016; pdf) was published a few years ago. It was actually published under a CC-SA license but still unavailable online. As all books should be free and online, 2 I nudged Sheldon to send me the file, and tidied it up a bit, so here you have it.
Jeffrey Tucker’s Foreword and Sheldon’s Introduction are below. Enjoy! [continue reading…]
If a debtor, pursuant to a secured loan agreement (mortgage), decides not to continue making payments on the loan despite their ability to do so, is this theft? The lender has the ability to foreclose on the property in the event of default. [continue reading…]
Duncan Whitmore has replied to me again, so here is my response. Our exchange began with trade but has become a dispute about foundations. The surface topic is free trade versus a limited, strategic use of protection. Underneath that is a fight over what makes a liberal order possible, and what keeps it alive once the slogans have faded. Mr Whitmore argues as a principled libertarian. He takes property rights as natural rights, from which politics should withdraw save to avert plain evils. I argue as a contingent libertarian. I take rights as a settlement adopted by a community for chosen ends: prosperity, peace, continuity, and the minimal unhappiness compatible with survival. That difference explains why he treats tariffs as an outrage in themselves, while I treat them as tools that may sometimes be justified to repair the conditions that let liberty breathe. [continue reading…]
Dan Carlin’s Hardcore History: Addendum: EP34 Atomic Accountability.
Dan visits with Professor Alex Wellerstein, whose new book about Truman and the dropping of the atomic bombs will challenge everything you think you know about the subject.
This is my talk at the Liberland Constitution Christmas Party Prague 2025, Dec. 19, 2025, based on the article below, which will be included in the book based on the proceedings, First Constitutional Convention of the Free Republic of Liberland, Vít Jedlička, ed. (Dec. 19, 2025; forthcoming). The transcript is also below. Pictures of the event may be be found at Prague 2025: Liberland Constitution Celebration: Photos; also Hoppe, Fusillo, Kinsella Speak at Liberland Constitution Celebration, and Vit’s post at Facebook and my facebook post. This audio is from my iphone; video and better audio, and that of other talks, will be released in due course. [continue reading…]
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