I started out this thread with this publication.

Block, Walter E. 2016. “On Don Boudreaux on consumer and individual sovereignty.” June 28; http://www.economicpolicyjournal.com/2016/06/walter-block-on-don-boudreaux-consumer.html

R wrote to me as follows:

Walter,

I get what you are emphasizing, but couldn’t a more generous interpretation of Boudreaux, especially his first comment, be along the lines of Mises:

“The capitalists, the enterprisers, and the farmers are instrumental in the conduct of economic affairs. They are at the helm and steer the ship. But they are not free to shape its course. They are not supreme, they are steersmen only, bound to obey unconditionally the captain’s orders. The captain is the consumer. “(Bureaucracy, “Profit Management,” p. 226 )

Here is my response to R:

You are indeed correct. Boudreaux is indeed writing in the tradition of Mises. But, Mises was wrong on this matter. He focused on consumer sovereignty (the consumer as “captain”).  Rothbard is the corrective to Mises on this issue. Murray focused, instead, on individual sovereignty, which includes BOTH consumers and producers. Why leave out producers, and tell only a part of the story, yes, an important part, but only a part?

Let me emphasize again that I’m a big fan of Don Boudreaux’s. His pulverizing, eviscerating of the minimum wage law, his defense of free trade, among many other great things he’s done, is really magnificent. But on this issue I (and Murray, I think) have to depart from him.

Best regards,

Walter

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