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INTRODUCTION TO LIBERTARIANECONOMICS


Libertarian economic Theory is largely derived from Classic Liberal and Austrian Economic theory. It has been greatly influenced by David Hume, Adam Smith and David Riccardo. While it agrees with Conservative Economic Theory that without producers there would be no jobs and a far greater scarcity of resources, its focus is on the individual as a consumer with the premise that all individuals are consumers! Thus, unlike modern liberal and socialist theory, it does not attempt to separate individuals into hostile camps based on social class, nor does it follow the Conservative view that what is good for the nation's producers is necessarily sound economic policy from which all others will eventually benefit!

Part I: The Basics.
Part II: Effects on Workers.
Part III: International Trade.
Part IV: Taxes and Regulations.

Addenda will be added, once the second draft of this article is completed, regarding the benefits and limits of Antitrust Regulations, Trickle Down Economics, the effect of Free Trade on Inflation, dealing with the disruptions caused by moving toward a free trade system, and the economic effects of Monetary Policy and how the Fed affects them.