We think of prices as simply the notation of how much we must pay for things. But the price system accomplishes far more than that. Hundreds of millions of people buying and selling, and abstaining from buying and selling, generate a system of signals - prices to producers and consumers about relative scarcities and demand. Through this system, consumers can convey to producers their subjective priorities and entrepreneurs can invest accordingly.
Sheldon RichmanIt should go without saying that even the most narrowly construed eminent-domain power would violate individual rights. Either a person owns his legitimately acquired property or he does not.
Sheldon RichmanThe more power government has to provide things, the more power it has to dictate terms.
Sheldon RichmanThe draft is a monstrous violation of individual liberty, and even a good motive cannot make it otherwise. In a free society no one should be compelled to take up arms, or be forced to kill or risk being killed... But who can blame prospective volunteers from doubting that there is a threat from Iraq? The Bush administration has yet to make a persuasive argument to that effect.
Sheldon Richman