Source: Free Association
by Sheldon Richman
“In a fundamental respect, libertarian minarchism (minimal, or limited, government) and market anarchism (or anarcho-capitalism) have something important in common: neither can guarantee individual rights. But there’s a big difference: unlike market anarchism, minarchism appears to offer a guarantee, which allegedly makes it preferable to market anarchism. Actually, it’s a false guarantee, a bait-and-switch. So it’s not preferable to market anarchism, at least on those grounds. However, what market anarchism can do is show how everyday incentives will tend to protect liberty (and already do now). Minarchism can’t credibly say the same thing because constitutionally limited representative democracy is riddled with well-known perverse political incentives. That makes market anarchism the better bet.” (08/23/26)
https://sheldonrichman.substack.com/p/limited-governments-bait-and-switch