Liberty and Democracy as Economic Systems
By Randall G. Holcombe
This article appeared in the Winter 2002 issue of The Independent Review


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)]

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