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Volume 6  Number 3  •  Winter 2002
Other Issues:  

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.