In his forthcoming book Libertarianism, from A to Z (Basic Books, May ‘10), acclaimed Harvard economist Jeffrey Miron examines Libertarianism, the free-market political philosophy. Although it may seem a fairly straightforward proposition, easily expressed by the phrase, “Keep your government out of my bedroom and out of my wallet,” figuring out just how such broad principles apply to real-world political and economic issues is a trickier matter. And, to do so consistently and thoughtfully is even harder, especially when the logic leads to uncomfortable conclusions.
Miron takes audiences beyond the superficial tenets of libertarian thought, and examines the movement’s controversial stances on prostitution and drug use, exploring issues ranging from abortion to the war on terror.
Program Descriptions
Libertarianism, from A to Z: The Case for Consequential Libertarianism
Modern political debate is dominated by the liberal and conservative perspectives. Many people, however, find both views to be awkward and inconsistent. Consequential libertarianism argues that most policies favored by the left and the right are counterproductive, so government should scale back or eliminate its interventions regarding vice, poverty, regulation, education, foreign affairs, discrimination, guns, abortion, gay marriage, and more. This means the consequential perspective is socially liberal and fiscally conservative; it wants government out of people’s bedrooms, and out of their wallets.
The Economic Case for Legalizing Drugs
Most societies outlaw drugs like marijuana, cocaine, and heroin. Mainstream political discussion rarely challenges this policy, but theory and evidence both indicate that drug prohibition causes far more harm than drug use itself. A better approach is therefore the one currently employed for alcohol and tobacco: legalize but use sin taxation, age restrictions, and related policies to moderate the unwanted consequences of drugs.
Obamanomics: Growing the Pie or Dividing the Pie?
Since President Obama took office in January, 2009, his administration has pursued a broad range of economic policies. The purported goal has been to make the economy work better, such as by ending the recession, stabilizing the housing market, or reforming health care. Thus, the policies claim to expand the economic pie, not just redistribute ownership.
The reality is different. The fiscal stimulus aimed to grow the pie, but its design emphasized redistribution rather than efficiency. Other new policies were almost entirely about redistribution, rather than about making the economy more productive. It is no surprise, therefore, that the economy is recovering slowly; the economic policies pursued over the past ten months have been inimical to productivity and growth.
Bio
Jeffrey A. Miron is a senior lecturer in the Department of Economics at Harvard University and the former chair of the economics department at Boston University. He has appeared as a commentator on CNN and PBS, and has written for the New York Times and Forbes magazine. Miron earned his Ph.D. in economics from M.I.T., has served on the faculty at the University of Michigan and as a visiting professor at the Sloan School of Management, M.I.T. He has published more than 25 articles in refereed journals and 30 op-eds in the Boston Globe, Boston Herald and Boston Business Journal. He has been the recipient of an Olin Fellowship from the National Bureau of Economic Research, an Earhart Foundation Fellowship, and a Sloan Foundation Faculty Research Fellowship. His area of expertise is the economics of libertarianism, with particular emphasis on the economics of illegal drugs.
Miron was one of the 166 economists to sign a letter to congressional leaders in opposition to the bailout plan put forth by the U.S. federal government in response to the global financial crisis of September–October 2008. He advocated that those companies that floundered during the crisis should be bankrupt instead of receiving government help.
