Libertarianism and the Importance of Understanding Causality

Source: Ludwig von Mises Institute
by Finn Andreen

“Even though support for the free market has become stronger in the last decades, libertarianism can still only be considered a fringe movement. Most people still believe that many social problems are due to ‘market failure’ and therefore require state intervention to be ‘solved.’ Despite the obvious flaws of modern socialism … the liberalism of Ludwig von Mises is still far from enjoying the majority support that it so amply deserves. There are many reasons for this. Of course, media bias and public education prevent the dissemination of the ideas of freedom in society and limit the understanding of the free market. However, an often overlooked, yet equally important, reason is a general disregard for causality. When the real and underlying causes for social and economic problems are unknown or misunderstood, the public’s support for wrong-headed statist solutions to these problems is not surprising.” (11/20/23)