Justice And Pareto-Efficiency (The Case Against Coase)
DOI:
https://doi.org/10.12775/DP.2015.015Abstrakt
This paper will have the following logical structure. First, what will be presented is the libertarian theory of homesteading coupled with its justification. Second, I will argue for Pareto-efficiency– as opposed to Marshall-efficiency– as the only scientifically sound concept of efficiency. Then, whenever it can be detected that utilitarians resort to Marshall-efficiency, their claim to satisfactorily explain the distribution of rights can be dismissed out of hand. The attempts to rebut utilitarianism will be particularly directed against the famous Coase theorem. On the other hand, if natural-rights libertarianism proves to go hand in hand with Pareto-efficiency, it is the stronghold of the said libertarianism which will be further solidified.
Reference
Block W., “Coase and Dementz on Private Property Rights”, Journal of Libertarian
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Coase R.H., The Firm, the Market, and the Law, The University of Chicago Press,
Hoppe H.-H., Economics and Ethics of Private Property. Studies in Political Economy
and Philosophy, Ludwig von Mises Institute, Auburn 2012.
Friedman D., Hidden Order, HarperBusiness, 1998.
Friedman D., Law’s Order, Princeton University Press, 2000.
Parfi t D., On What Matters vol.II, Oxford University Press, 2011.
Rothbard M., The Ethics of Liberty, New York University Press, New York 1998.
Rothbard M., Man, Economy and State, Ludwig von Mises Institute, 2009.
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