When liberty and democracy are recognized as both economic and political systems, it becomes clear that at some level they conflict. If majority rule can threaten private-property rights, then there is no basis for holding that liberty and democracy can peacefully coexist for the rest of history.
|Other Independent Review articles by Randall G. Holcombe|
|Winter 2014||Consenting to Collective Action: The Classical Liberal Constitutional Calculus of James M. Buchanan|
|Fall 2013||The Public Debt Problem: A Comprehensive Guide|
|Spring 2013||Crony Capitalism: By-Product of Big Government|
|[View All (13)]|