Praxeology is defined by Rothbard (1962, p. 64) as “The formal implication of the fact that men use means to attain various chosen ends.” While men use means to attain ends in areas other than economics (e.g., war, voting), the dismal science is the only deeply elaborated subdivision of...

This discussion is divided into two parts. The first, which addresses takings of private water rights, makes the following points: government regulation of private property for a public purpose, such as protection of species, raises important constitutional questions concerning whether a...

The authors contend that what can legitimately be owned in a free society is only rights to physical property, not to the value thereof. You are thus free to undermine the value of our property by underselling us, by inventing a new substitute for our property, etc. But you cannot legitimately...

In his seminal work, "The Problem of Social Cost," Coase held that in cases of private property right disputes involving what have been called externalities, "with costless market transactions, the decision of the courts concerning liability for damage would be without effect on the allocation...

This paper shall attempt to reconcile environmentalism and economic freedom.Before making this seemingly quixotic endeavor, we must be sure we are clear on both concepts. Environmentalism may be non controversially defined as a philosophy which sees great benefit in clean air and water, and to a...