In this paper we analyse the concept of coerced exchange (and partly of voluntary exchange inasmuch as the absence of coercion is its necessary condition), which is of utmost importance to economic theory in general and to the Austrian School of Economics in particular. The subject matter literature normally assumes that a coerced action occurs under threat. Threats in turn can be studied from the perspective of speech act theory, which is concerned with the speaker’s intentions. Ultimately, our goal is (...) to provide a descriptive (i.e. non-moralized) definitions of threat and coercion, based on the analysis of the coercer’s intentions. If successful, we would be in a position to present such an account of coerced and voluntary exchanges that is compatible with both speech act theory and the Austrian methodology. Although we focus on the Austrian School of Economics, we believe that our investigations might impact on economic theory in general. We also criticize a rights-based account of coercion employed in the research practice of some neo-Austrians and based on the libertarian ethic of property rights. (shrink)

Libertarianism deals with what the law should be. In this article, we focus on what the appropriate law to punish criminals should be in a libertarian society; that is, one that respects the Non-Aggression Principle and property rights. We examine various theories of punishment and explain why some are incompatible with libertarianism. We contribute to the latest libertarian theory of punishment suggesting the necessity to take time preference into consideration. We conclude stating a limit and a limitation to libertarian punishment (...) theories. (shrink)

In the present paper we argue that besides four traditional methods of property acquisition – that is, homesteading, production, voluntary transfer and rectification of injustice – libertarianism also recognizes a fifth method, namely the method of accession. We contend that not only have some libertarian scholars implicitly embraced the accession principle, but also that if libertarianism wants to distribute exclusive ownership to indivisible things produced from inputs supplied by two or more parties without running into conflict with its own principles (...) of justice, it has to recognize accession as the fifth mode of appropriation. As the main thesis of the paper goes against the received view concerning the very core of libertarianism, that is, its methods of property acquisition, the text indicates some new developments within the libertarian theory of justice. (shrink)