Student Loan Forgiveness: The Libertarian Response?

Source: EconLog
by Walter Block

“With Murray Rothbard and Lysander Spooner, I regard the government as a ‘band of murderers and thieves.’ So, I oppose anything that benefits them. They seem to think that loan forgiveness benefits them, otherwise they wouldn’t do it, so I’m against this initiative of theirs if only for that reason. … On the other hand, if we look just at this program, and avert our eyes from the government later raising taxes to finance it, we reach a different conclusion. The less money the government has, the better. … These students haven’t been taxing, regulating, murdering, stealing, cancelling, etc. … Thus, we have two effects, one in favor, one against. Which one is more powerful? How should we weigh them? That is an empirical issue, not one of deontology. As a result, the way ahead for libertarians, in my view, is unclear.” (09/14/22)