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1、ISSN1801-0938NewPerspectivesonPoliticalEconomyVolume4,Number1,2008,pp.53–78InDefenseofRothbardianWelfareEconomicsJeffreyM.HerbenerƍJELClassification:D60,B25Abstract:MurrayRothbardofferedatwofolddefenseoftheunhamperedmarketeconomy.Hearguedthatitupholdsnaturalrightsandpromotesthelifeandflour-is
2、hingofpersonsmorefullythananyothersocialsystem.Hiswelfareeconomicswasnotadefenseoftheunhamperedmarketeconomy,butacritiqueofmainstreameconomists’useofwelfareeconomicstopromotestateintervention.HearguedthatmainstreameconomistsacceptthesubjectivityofvaluebyadheringtotheParetoruleinwelfareeco
3、nomics.Indoingso,however,theymustembracealltheimplicationsofthesubjectivityofvalueandnotjusttheimpossibilityofinterpersonalutilitycom-parisons.Theymustacceptalsotheprincipleofdemonstratedpreference.Recastingwelfareeconomicsalongthelinesofdemonstratedpreferencereorientsitawayfromartificialm
4、odelsoftheeconomybasedonfictitiouseconomicagentstowardtherealeconomyofactualhumanpersons.Rothbard’sdemonstrationthatlaissez-faireren-dersthegreatestsocialwelfareintherealeconomyisshowntobevalid.ƍJeffreyM.Herbener–ProfessorofEconomics,GroveCityCollege,jmherbener@gcc.edu.54NewPerspectivesonPo
5、liticalEconomyIbeginbyobservingthatyoucannotfindoutwhatamanmeansbysimplystudy-inghisspokenorwrittenstatements…Inordertofindouthismeaningyoumustalsoknowwhatthequestionwas…towhichthethinghehassaidorwrittenwasmeantasananswer.¹1Rothbard’sDefenseoftheUnhamperedMarketMurrayRothbard’sdefenseoftheu
6、nhamperedmarketeconomyisbasedonthephi-losophyofnaturallawandtheethicsofnaturalrights.Naturallawholdsthatreasoncandiscoverthecharacteristics,ornatures,ofthedifferententitiesintheworldandhowtheseentitiesbehaveandinterrelate,i.e.,naturallaws.Thenaturallawethicisthatthegoodforeachentityiswhatf
7、ulfillsitsnature.Man,too,hasanatureandthus,reasoncandeterminewhatisgoodforman.“Thenaturallaw,”Rothbardwrote,“elucidateswhatisbestforman–whatendsmanshouldpursuethataremosthar-moniouswith,andbesttendtofulfill,hisnature.”²Salientamongthecharacteristicsthatconstituteman’s
