Fractional-reserve banking is a contentious issue within libertarian theory. This is confusing because I do not consider it to be part of libertarian theory at all.
Author Archive
Fractional-Reserve Banking: Not Fraud, Not Folly
Monday, May 13th, 2013   Submitted by Wendy McElroyThe Last Gasp of Copyright Dies Within Me
Wednesday, March 20th, 2013   Submitted by Wendy McElroy
A few weeks ago, my position on intellectual property (IP) shifted. I abandoned the possibility that copyright by contract could function within a libertarian framework.
I have argued for decades that IP cannot be derived from natural rights. Most IP advocates claim IP is a product of your labor in the same sense as a chair you build; if you do not need a contract to claim the chair as property, then neither do you need one to own an idea. (See the Daily Anarchist article “The Basics of Copyright” for arguments against IP as a natural right.)
Only Places Have Rights?
Sunday, March 3rd, 2013   Submitted by Wendy McElroyPrint Me A Revolution
Friday, February 15th, 2013   Submitted by Wendy McElroy
3D printers manufacture three-dimensional products by laying down a series of thin plastic or metal in one layer at a time. The 3D printing technology is stunning in its potential to empower individuals. Unfortunately the state knows its power as well. The race is on.
Whose Hand Will be on the Power?
Political Message of the Rising Zombie
Monday, January 21st, 2013   Submitted by Wendy McElroy
Zombies are in the zeitgeist; they are part of the defining spirit of our society as expressed through culture. Their popularity is soaring.
One reason is the political commentary that has been embedded into many zombie films since 1968 when the anti-establishment director and scriptwriter George Romero reinvented the sub genre. Romero is self-consciously political.
Expanding on Rothbard’s “Lifeboat Situation”
Wednesday, January 9th, 2013   Submitted by Wendy McElroy“Two men are stranded in a lifeboat, and…” 
How many discussions of rights and ethics begin in a lifeboat where one man’s survival involves killing the other? The discussions usually end by concluding there is no right of self-ownership, no such thing as natural rights; there is no objective morality.
Can You Sell Yourself Into Slavery?
Monday, December 31st, 2012   Submitted by Wendy McElroy
No. The reason requires a considerably lengthier response.
Slavery is the social condition in which one human being owns another as property. This means the owner can use and dispose of the slave as he would other property such as a table or dog. Historically, slaves were acquired in one of two ways: a defeated opponent was offered the choice of slavery or death; or, a person was kidnapped. No contract existed even in the choice between death and enslavement because the framework of coercion negates the possibility of contracting; coercion and contracts are diametrically opposed concepts. Historical reference does not dismiss the hypothetical debating point of a ‘slave-contract’, of course, but facts should carry some weight.
The Futility of Repeal
Sunday, November 18th, 2012   Submitted by Wendy McElroy
As a matter of principle, I am for repealing every piece of governmental legislation in existence. I echo and applaud the sentiment so eloquently expressed by Groucho Marx in the movie Horse Feathers: “Whatever it is, I’m against it!”As a practical matter, I think repealing laws is a waste of time.
The Grayness of Children’s Rights
Tuesday, September 11th, 2012   Submitted by Wendy McElroyThe Basics of Copyright
Saturday, September 1st, 2012   Submitted by Wendy McElroy



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