Free Markets & Free Will

The base premise of the austrian school of economics is free will and the capacity of an individual to know what it wants. Out of this main axiom through praxeology the doctrine concludes that the best system of human civilisation is to as much as possible protect the liberty and capacity for the individual to make as many choices as possible. Because logically left to its own devices the individual would make exactly these choices that would result in him achieving full self-actualization. Assuming he is not the only individual in the universe all interactions/transactions he would make with others would only happen if they were mutually beneficial. This is why libertarians dislike the state, in their minds it is bad for any institution not to have to abide by these rules and thus be able to force non-mutually beneficial transactions (taxes) as well as forcing constraints (laws and regulations) onto possible interactions thus limiting the individual in its capacity to achieve self-actualization. Continue reading Free Markets & Free Will