Per Bylund Profile picture
20 Dec, 13 tweets, 3 min read
Many anti-market folks assert that property must have arisen from someone claiming for himself that which was jointly used. That's their bias, not an explanation or theory. Private property can emerge from joint or communal use without conflict. When it does, it is by definition
legitimate property. Locke showed how it could be done through mixing one's labor with unowned/unclaimed land. I have previously drafted an alternative theory. Neither claims that all existing property, or even the existing property *system*, is therefore libertarianpapers.org/5-man-matter-f…
legitimate, only that there can be legitimate private property. This is enough to carefully consider the concept, which must be accepted as a potential alternative solution for social production and economy. The arguments for property-based production are very strong, which is,
I suspect, what actually drives the anti-market folks' refusal to consider the potential for legitimate property: with it, their position becomes a very steep uphill battle. This may also be the reason they make vague historical claims, as though any historical action would
invalidate the concept itself (it does not). But it is not difficult to see how legitimate property could emerge without any conflict. Elinor Ostrom's work shows how communal property might not lead to the 'tragedy of the commons' because users adopt rules of use that create
structural incentives for lasting use. But those rules, even though they are communal or collective, are exclusionary just as private property is: no individual or grouping may use the joint resource in ways not accepted by the rules/everyone. But outsiders may also not use the
resource, which is communal and not open-access (which would undo the Ostromian solution to the tragedy of the commons problem). The step to rules-based individual usage is minimal. What if a community has vast joint grazing grounds, and one member wants to experiment with
growing food instead. If she does so beyond the grazing grounds, can she ask the others to keep their cattle from that patch of land? What if she asks to use part of the grazing grounds, and the others agree to keep the cattle from grazing there--perhaps by fencing it in (or, if
you wish, keeping the cattle out)? In both cases, whether or not what is produced is private, use of a resource itself restricts other uses. There is no conflict if nobody else makes any claim to a resource, and I therefore start using it for producing (for me, my family, the
community, whatever). Does my producing not allow me to at least plead with others not to tamper with or destroy what's being produced? Do I not have a right to attempt production using a resource that was unclaimed, unused, uncollected? Can I not make an agreement with the
community to allow the production to conclude without disruption, perhaps even get their guarantee, beforehand? The real question is not if this is "real" private property, whether there are some specifics about the exact practical nature of that one agreement that does not fit
with one's theory of property. The real question is why such voluntary exclusion for the purpose of production (whether private or communal), which harms no one and which nobody objects to, is illegitimate. And, more to the point, what right some observer has to claim that this
must be prohibited behavior despite no harm and no disagreement. This is, by any reasonable definition, legitimate exclusionary property. It excludes for the sake of engaging in production--the creation of value and thus the bringing about of a higher standard of living.

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More from @PerBylund

6 Dec
This is the type of nonsense we get without basic understanding of economy: Government is recommended to lure businesses to close by offering them money. There are many problems with this, including where that money comes from, but the greatest is the upending of what
economy means. By establishing a payment system based on paying off *producers*, government effectively does away with consumer sovereignty. Businesses remain in business and earn profits because consumers value what they have to offer. When consumers don't, then the business
fails. Like so many other schemes, this pretend-smart nonsense by @CEPS_thinktank and @WEF mistake the market economy for production management. Suggesting to pay off producers to not produce effectively shift the determination of the production structure away from consumer wants
Read 4 tweets
4 Dec
Needs do not matter. History is full of thinkers falling into the trap of referring to needs as were they something real and distinct. But by referring to what people "need," you're really using rhetoric without substance. You are creating the illusion that your claims are
objective, whereas they are not. To put it differently, it sounds smart but isn't. Economists recognized this fact in the early 1870s, which caused a revolution in the study of economics. Until then, they had, like everybody else, been trapped by thinking of people's needs in the
objective meaning that the term seems to imply. But there is nothing objective about it, and even if there were--it would still be irrelevant. So referring to "need" in your argument is akin to the trade of stage magicians: what you're doing looks impressive, but it's not. When
Read 25 tweets
18 Nov
Let's clear up some misconceptions about #AustrianEconomics. If people want to dismiss this school of thought, which many seem inclined to do for political (not theoretical) reasons, at least they should do so based on facts and knowledge, not on falsehoods. Here are corrections:
"Austrian economics is not empirical."
False.
Empirical studies ("history") are important in AE and have larger scope than in mainstream economics. Mises worked with applied research in the Vienna Chamber of Commerce and founded the Austrian Institute for Business Cycle Research,
for which he appointed Hayek as the first director. This is where Hayek did much of the business cycle research that later won him the Nobel Prize. What critics fail to understand is Austrians' narrower definition of theory, which is not a collection of hypotheses but true,
Read 25 tweets
16 Nov
This is the type of nonsense we get with the blind adherence to the consumption-spending fallacy ("Keynesianism"): "remote workers are 'contributing less to the infrastructure of the economy whilst still receiving its benefits'." Producing at lower cost = cnb.cx/35mNe7x
bad for the economy? 🤦‍♂️To these "analysts," people wasting less resources when producing (supposedly at the same level) need to be burdened with an extra tax to "make up for" (?) using less resources. Did anybody at @DeutscheBank think this through? If the problem is that they're
not spending enough to produce, i.e. that there is a higher output-input ratio (horror!), then they should, for the sake of consistency (and, from their POV, to stifle such economy-killing lower-cost production), also propose extra taxes for #innovation, #entrepreneurship, and
Read 4 tweets
29 Oct
Yuck. I'm not looking forward to teaching my #entrepreneurship students this nonsense. Cost-based pricing exists, but it is really stupid to use it in a startup with new product.
I wrote about this here (although the essay was given a strange title): mises.org/wire/how-gover…
As expected, this nutter feels compelled to flaunt his complete lack of theoretical understanding. In this case, of course, he wasn't even able to read the tweet he comments on. What does this Keynesian idiot think "in a startup with new product" mean?
Read 5 tweets
19 Oct
What's a telltale sign of economic illiteracy? I'm starting to believe the worst is the claim that market leads to monopoly and the accumulation of wealth in a few hands. Why? Because it makes no sense at all on the face of it, and has no logical explanation, so it is indicative
of fundamental confusion and misunderstanding. Granted, many great thinkers have been deluded by this, including Joseph Schumpeter (the old pessimist, not the young optimist). It is nevertheless a fundamental error. This error lies not in the fact that some or even many business-
men strive for empire, that businesses and businessmen would like and may wish for monopoly, or that they seek as much profit as possible, but in mistaking the aim of individual actors for the mechanism that they collectively comprise. This is like figuring the function of money
Read 24 tweets

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