,P>T #c1 ,*APT] #af 
,ECONOMIC ,R5T 

#ahigahig 

,PEOPLE 3 

,AU?OR 3 ,B5JAM9 ,R4 ,TUCK] 

,TEXT 3 

,ECONOMIC ,R5T4 

.<,LIB]TY1 ,NOVEMB] #e1 #a#h#i#b4.> 

,TO ! ,$ITOR ( ,LIB]TY37#a#a#d 8 #a7  

,I HAVE (T5 SE5 IT CLAIM$ ?AT UND] ! ,AN>*I/IC ORGANIZATION ( SOCIETY ECONOMIC R5T W\LD DISAPPE>1 OR BE R$UC$ TO AN 9SIGNIFICANT AM\NT4 ,BUT ,I HAVE NEV] YET BE5 SATISFI$ ) ANY EXPLANATION ( ! WAY 9 :I* ?IS IS TO BE BR\<T AB\T47#a#a#d 8 #b7  

,SOME SPEAK AS IF ! ABOLITION ( R5T W]E TO BE AN IMM$IATE RESULT ( ! ABOLITION ( 9T]E/1 APP>5TLY TAK+ ! GR\ND ?AT R5T IS A PRODUCT ( ! SELL+ PRICE ( L& & ! 9T]E/ ( MONEY4 ,BUT ACCORD+ TO ! ACCEPT$ !ORY ( ECONOMI/S 7! ONLY ONE ?AT ,I HAVE LE>N$ TO UND]/&71 R5T IS ! 9DEP5D5T FACTOR1 & ! SELL+ PRICE IS ! PRODUCT ( R5T & 9T]E/47#a#a#d 8 #c7  

,I HAVE ALSO SE5 IT CLAIM$ ?AT UND] LIB]TY !RE WILL BE NO GREAT CITIES1 & !RE=E NO CITY PRICES = L&4 ,I CAN UND]/& ?AT LIB]TY WILL MAKE ! MASSES RI*]1 OS ?AT !Y WILL BE BETT] ABLE TO *OOSE ! HOME :I* PLEASES !M2 & ?AT IT WILL MAKE !M SAN]1 SO ?AT !Y WILL BETT] APPRECIATE ! ATTRACTIONS ( C\NTRY LIFE4 ,BUT CITIES WILL /ILL (F] ! GREATE/ OPPORTUNITIES = MAK+ MONEY1 & MANY SOCIAL & AES!TIC ADVANTAGES4 ,I CANNOT BELIEVE1 !RE=E1 ?AT GREAT CITIES WILL DISAPPE>47#a#a#d 8 #d7  

,AS TO ! FREE+ ( VACANT L&1 ,I DO NOT REMEMB] TO HAVE HE>D ?AT ?IS W\LD DE/ROY ANY BUT SPECULATIVE R5T4 ,!RE MI<T P]HAPS BE A GREAT] RELIEF AT FIR/1 :ILE ! VACANT L& WAS BE+ TAK5 UP4 ,BUT C]TA9LY )9 A %ORT TIME--)9 A YE>1 ,I %\LD SAY--ALL L& :I* HAD ANY SPECIAL ADVANTAGE OV] ORD9>Y F>M+ L& W\LD BE OCCUPI$1 & !SE SPECIAL ADVANTAGES W\LD BE 9 ! H&S ( ! OCCUPI]S47#a#a#d 8 #e7  

,ON ! O!R H&1 IT MU/ BE REMEMB]$ ?AT1 IF ANY ECONOMIC R5T IS LEFT1 EV]Y ADVANCE 9 PROSP]ITY WILL NATURALLY T5D TO 9CREASE ?IS R5T4 ,& LIB]TY IS TO CAUSE AN ADVANCE 9 PROSP]ITY47#a#a#d 8 #f7  

,AGA91 :5 VACANT L& IS FREE1 CITIES CAN BE SETTL$ MORE COMPACTLY4 ,?IS WILL 9T5SIFY ! PECULI> ADVANTAGES ( CITY LIFE1 & !REBY 9CREASE ! DEM& = CITY & SUBURBAN L&4 ,! EFFECT ( FREE VACANT L& W\LD1 ,I IMAG9E1 BE CLOSELY ANALOG\S TO ?AT ( RAPID TRANSIT1 :I* WAS EXPECT$ TO DECREASE R5T1 BUT HAS 9/EAD 9CREAS$ IT47#a#a#d 8 #g7  

,H[1 !N1 IS ECONOMIC R5T TO BE GOT \T ( ! WAY87#a#a#d 8 #h7 

,/EPH5 ,T4 ,BY+TON4 
  

,LIB]TY HAS NEV] /OOD ) ?OSE :O PR(ESS TO %[ ON /RICTLY ECONOMIC GR\NDS ?AT ECONOMIC R5T MU/ DISAPPE> OR EV5 DECREASE AS A RESULT ( ! APPLICATION ( ! ,AN>*I/IC PR9CIPLE4 ,IT SEES NO *ANCE = ?AT FACTOR 9 ! HUMAN CON/ITUTION :I* MAKES COMPETITION SU* A P[]FUL 9FLU5CE--NAMELY1 ! DISPOSITION TO BUY 9 ! *EAPE/ M>KET--TO ACT DIRECTLY UPON ECONOMIC R5T 9 A WAY TO R$UCE IT4 ,?IS DISPOSITION TO BUY *EAP1 :I* 9 A FREE M>KET IS FATAL TO ALL O!R =MS ( USURY1 IS ON ! CONTR>Y ! MA9/AY ( ECONOMIC R5T1 :E!R ! M>KET BE FREE OR RE/RICT$4 ,:51 ?R\< FRE$OM ( BANK+1 IT %ALL BECOME POSSIBLE TO FURNI% MONEY AT CO/1 NO ONE WILL PAY = MONEY MORE ?AN CO/2 & H5CE 9T]E/ ON MONEY1 AS WELL AS ON ALL CAPITAL CONSI/+ ( COMMODITIES :I* MONEY WILL BUY & TO ! PRODUCTION ( :I* !RE IS NO NATURAL LIMIT1 WILL NECESS>ILY DISAPPE>4 ,BUT ! OCCUPANT ( L& :O IS 5ABL$1 BY ITS SUP]IORITY1 TO UND]SELL HIS NEI<BOR & AT ! SAME TIME TO REAP1 ?R\< HIS GREAT] VOLUME ( BUS9ESS1 MORE PR(IT ?AN HIS NEI<BOR1 5JOYS ?IS ECONOMIC R5T PRECISELY BECAUSE ( HIS OPPORTUNITY TO EXPLOIT ! CONSUM]'S DISPOSITION TO BUY *EAP4 ,! EFFECT ( FRE$OM IS NOT FELT H]E 9 ! SAME WAY & ) ! SAME DIRECTNESS ?AT IT IS FELT ELSE:]E47#a#a#d 8 #i7  

,!RE >E O!R GR\NDS1 H[EV]1 SOME ( !M 9DIRECTLY ECONOMIC1 SOME ( !M PURELY S5TIM5TAL1 :I* JU/IFY ! BELIEF ( ! ,AN>*I/ ?AT A CONDITION ( FRE$OM WILL GRADUALLY MODIFY TO A V]Y APPRECIABLE EXT5T ! ADVANTAGE 5JOY$ BY ! OCCUPANT ( SUP]IOR L&4 ,TAKE FIR/ ONE ?AT IS 9DIRECTLY ECONOMIC4 ,I AGREE ) MY CORRESPOND5T ?AT GREAT CITIES >E NOT DE/9$ TO DISAPPE>4 ,BUT ,I BELIEVE ALSO ?AT !Y WILL BE ABLE TO MA9TA9 !IR EXI/5CE ONLY BY (F]+ !IR ADVANTAGES AT A L[] PRICE ?AN !Y N[ EXACT4 ,:5 ! LABOR]1 9 CONSEQU5CE ( HIS 9CREAS$ WAGES & GREAT] WELF>E RESULT+ FROM ! ABOLITION ( 9T]E/1 %ALL 5JOY A L>G] FRE$OM ( LOCOMOTION1 %ALL BE TI$ D[N LESS FIRMLY TO A P>TICUL> EMPLOYM5T1 & %ALL BE ABLE TO REMOVE TO ! C\NTRY ) GREAT] FACILITY & 9 POSSESSION ( MORE CAPITAL ?AN HE CAN N[ COMM&1 & :5 ! C\NTRY1 P>TLY BECAUSE ( ?IS MOBILITY ( LABOR & P>TLY BECAUSE ( ! ADVANCES 9 SCI5CE1 %ALL CONT9UALLY (F] A NE>] APPROA* TO ! UND\BT$ PRIVILEGES ( CITY LIFE1 ! REPRES5TATIVES ( COMM]CIAL & O!R 9T]E/S 9 ! GREAT CITIES WILL BE ABLE TO HOLD !IR PATRONS AB\T !M ONLY BY L[]+ !IR PRICES & CONT5T+ !MSELVES ) SMALL] GA9S4 ,9 O!R WORDS1 ECONOMIC R5T WILL LESS54 ,H]E ! DISPOSITION TO BUY *EAP1 NOT ANY SPECIAL COMMODITY1 BUT AN EASY LIFE1 DOES EX]T AN 9DIRECT & G5]AL 9FLU5CE UPON ECONOMIC R5T4 ,&1 UND] ?IS 9FLU5CE & YIELD+ TO IT1 ! CITY MAY 9CREASE 9 PROSP]ITY SIMULTANE\SLY ) ! DECL9E ( ECONOMIC R5T4 ,NAY1 ! 9CREASE 9 PROSP]ITY MAY ACCEL]ATE ?IS DECL9E2 = UND] LIB]TY 9CREAS$ PROSP]ITY MEANS ALSO WELL-DI/RIBUT$ PROSP]ITY1 :I* MEANS 9 TURN A L[]+ ( ! B>RI]S BETWE5 CLASSES & A CONSEQU5T T5D5CY TO EQUALIZE ! DIFF]5T LOCALITIES ( ! CITY ONE ) ANO!R47#a#a#d 8 #a7  

,UPON ! S5TIM5TAL GR\NDS = BELIEV+ 9 ! EVANESC5CE ( ECONOMIC R5T IT IS P]HAPS NOT WOR? :ILE TO DWELL4 ,I HAVE AN AV]SION TO DEF9ITE SPECULATIONS BAS$ ON HYPO!TICAL TRANS=MATIONS 9 HUMAN NATURE4 ,YET ,I CANNOT D\BT ?AT ! DISAPPE>ANCE ( 9T]E/ WILL RESULT 9 AN ATTITUDE ( HO/ILITY TO USURY 9 ANY =M1 :I* WILL ULTIMATELY CAUSE ANY P]SON :O *>GES MORE ?AN CO/ = ANY PRODUCT TO BE REG>D$ V]Y MU* AS WE N[ REG>D A PICKPOCKET4 ,9 ?IS WAY1 TOO1 ECONOMIC R5T WILL SUFF] DIM9UTION47#a#a#d 8 #a#a7  

,I ?9K MY CORRESPOND5T FAILS TO UND]/& :AT IS MEANT BY ! FREE+ ( VACANT L&4 ,IT DOES NOT MEAN SIMPLY ! FREE+ ( UNOCCUPI$ L&4 ,IT MEANS ! FREE+ ( ALL L& NOT OCCUPI$ BY ! [N]4 ,9 O!R WORDS1 IT MEANS L& [N]%IP LIMIT$ BY OCCUPANCY & USE4 ,?IS W\LD DE/ROY NOT ONLY SPECULATIVE BUT MONOPOLI/IC R5T1 LEAV+ NO R5T EXCEPT ! ECONOMIC =M1 :I* WILL BE RECEIV$1 :ILE IT LA/S1 NOT AS A SUM PAID BY OCCUPANT TO [N]1 BUT AS AN EXTRA & USURI\S REW>D = LABOR P]=M$ UND] SPECIAL ADVANTAGES47#a#a#d 8 #a#b7  

,BUT EV5 IF ECONOMIC R5T HAD TO BE CONSID]$ A P]MAN5CY2 IF ! CONSID]ATIONS :I* ,I HAVE URG$ %\LD PROVE ( NO AVAIL AGA9/ IT1--IT W\LD BE USELESS1 TYRANNICAL1 & PRODUCTIVE ( FUR!R TYRANNY TO CONFISCATE IT4 ,9 ! FIR/ PLACE1 IF ,I HAVE A RI<T TO A %>E ( ! ADVANTAGES ?AT ACCRUE FROM ! POSSESSION ( SUP]IOR L&1 !N ?AT %>E IS M9E2 IT IS MY PROP]TY2 IT IS LIKE ANY O!R PROP]TY ( M9E2 NO MAN1 NO BODY ( M51 IS 5TITL$ TO DECIDE H[ ?IS PROP]TY %ALL BE US$2 & ANY MAN OR BODY ( M5 ATTEMPT+ SO TO DECIDE DEPRIVES ME ( MY PROP]TY JU/ AS TRULY AS ! [N] ( ! SUP]IOR L& DEPRIVES ME ( IT IF ALL[$ TO RETA9 ! ECONOMIC R5T4 ,9 FACT1 /ILL ASSUM+ ?AT ?IS PROP]TY IS M9E1 ,I PREF]1 IF ,I MU/ BE ROBB$ ( IT1 TO BE ROBB$ BY ! L&-[N]1 :O IS LIKELY TO SP5D IT 9 SOME USEFUL WAY1 RA!R ?AN BY AN 9/ITUTION CALL$ GOV]NM5T1 :I* PROBABLY WILL SP5D IT = FIREWORKS OR SOME?+ ELSE :I* ,I EQUALLY DISAPPROVE4 ,IF ! PROP]TY IS M9E1 ,I CLAIM IT1 TO DO AS ,I PLEASE )2 IF IT IS NOT M9E1 IT IS IMP]T95T1 DI%ONE/1 & TYRANNICAL = ANYBODY TO =CIBLY TAKE IT FROM ! L&-OCCUPANT ON ! PRET5SE ?AT IT IS M9E & TO SP5D IT 9 MY NAME4 ,IT IS PRECISELY ?IS1 H[EV]1 ?AT ! ,S+LE-,TAX]S PROPOSE1 & IT IS ?IS ?AT MAKES ! ,S+LE ,TAX A ,/ATE ,SOCIALI/IC MEASURE4 ,!RE WAS NEV] ANY?+ MORE ABSURD ?AN ! SUPPOSITION ( SOME ,S+LE-,TAX]S ?AT ?IS TAX CAN BE H>MONIZ$ ) ,AN>*ISM47#a#a#d 8 #a#c7  

,BUT ,I N[ & !N MEET A ,S+LE-,TAX] :O ALL[S ?AT ! GOV]NM5T1 AFT] CONFISCAT+ HIS ECONOMIC R5T1 HAS NO RI<T TO DEVOTE IT TO ANY SO-CALL$ PUBLIC PURPOSES1 BUT %\LD DI/RIBUTE IT TO ! PEOPLE4 ,SUPPOS+ ! PEOPLE TO BE 5TITL$ TO ! ECONOMIC R5T1 ?IS C]TA9LY LOOKS ON ITS FACE LIKE A MU* SAN] & MORE HONE/ PROPOSITION ?AN ?AT ( ! ORD9>Y ,S+LE-,TAX]4 ,BUT ! QUE/ION AT ONCE >ISES3 ,:O IS TO PAY ! GOV]NM5T (FICIALS = !IR S]VICES 9 CONFISCAT+ ! ECONOMIC R5T & H&+ ME MY %>E ( IT8 ,& H[ MU* IS TO BE PAID !M8 ,& :O IS TO DECIDE !SE MATT]S8 ,:5 ,I REFLECT ?AT UND] SU* A ,S+LE-,TAX SY/EM ! OCCUPANTS ( SUP]IOR L& >E LIKELY TO BECOME ! POLITICIANS & TO TAX BACK FROM ! PEOPLE TO PAY !IR SAL>IES :AT ! PEOPLE HAVE TAX$ \T ( !M AS ECONOMIC R5T1 AGA9 ,I SAY ?AT1 EV5 IF A P>T ( ! ECONOMIC R5T IS RI<TLY M9E1 ,I PREF] TO LEAVE IT 9 ! POCKET ( ! L&-[N]1 S9CE IT IS B\ND TO ULTIMATELY GET BACK !RE4 ,AS ,M4 ,S*NEID]1 ! ,C>NEGIE ( ,FRANCE1 SAID 9 A REC5T 9T]VIEW ) A ,FIG>O REPORT]3 ,EV5 IF WE W]E TO HAVE A COLLECTIVI/ SY/EM ( SOCIETY & MY PROP]TY %\LD BE CONFISCAT$1 ,I BELIEVE ?AT ,I AM %REWD 5\< TO F9D A WAY TO FEA!R MY NE/ JU/ ! SAME4 ,M4 ,S*NEID] EVID5TLY UND]/&S ,/ATE ,SOCIALISM BETT] ?AN ! ,/ATE ,SOCIALI/S !MSELVES4 ,! ,SOCIALI/S & ! ,S+LE-,TAX]S WILL HAVE ATTA9$ !IR P>ADISE :5 !Y >E ROBB$ BY (FICIALS 9/EAD ( BY L&LORDS & CAPITALI/S47#a#a#d 8 #a#d7  

,9 MY VIEW IT IS IDLE TO DISCUSS :AT %ALL BE DONE ) ! ECONOMIC R5T AFT] IT HAS BE5 CONFISCAT$1 = ,I DI/9CTLY D5Y ! PROPRIETY ( CONFISCAT+ IT AT ALL4 ,!RE >E TWO WAYS1 & ONLY TWO1 ( EFFECT+ ! DI/RIBUTION ( WEAL?4 ,ONE IS ! NATURAL OP]ATION ( ECONOMIC LAW2 ! O!R IS TO DI/RIBUTE IT >BITR>ILY BY AU?ORITY 9 ACCORDANCE ) /ATUTE LAW4 ,ONE IS ,AN>*ISM2 ! O!R IS ,/ATE ,SOCIALISM4 ,! LATT]1 9 ITS WOR/ & MO/ PROBABLE =M1 IS ! EXPLOITATION ( LABOR BY (FICIALDOM1 & AT ITS BE/ IS A REGIME ( SPIRITLESS EQUALITY SECUR$ AT ! EXP5SE ( LIB]TY & PROGRESS2 ! =M] IS A REGIME ( LIB]TY & PROGRESS1 ) AS CLOSE AN APPROXIMATION TO EQUALITY AS IS COMPATIBLE !RE)4 ,& ?IS IS ALL ! EQUALITY ?AT WE \<T TO HAVE4 ,A GREAT] EQUALITY ?AN IS COMPATIBLE ) LIB]TY IS UNDESIRABLE4 ,! MOM5T WE 9VADE LIB]TY TO SECURE EQUALITY WE 5T] UPON A ROAD :I* KN[S NO /OPP+-PLACE %ORT ( ! ANNIHILATION ( ALL ?AT IS BE/ 9 ! HUMAN RACE4 ,IF ABSOLUTE EQUALITY IS ! IDEAL2 IF NO MAN MU/ HAVE ! SLI<TE/ ADVANTAGE OV] ANO!R1--!N ! MAN :O A*IEVES GREAT] RESULTS ?R\< SUP]IORITY ( MUSCLE OR SKILL OR BRA9 MU/ NOT BE ALL[$ TO 5JOY !M4 ,ALL ?AT HE PRODUCES 9 EXCESS ( ?AT :I* ! WEAKE/ & /UPIDE/ PRODUCE MU/ BE TAK5 FROM HIM & DI/RIBUT$ AMONG HIS FELL[S4 ,! ECONOMIC R5T1 NOT ( L& ONLY1 BUT ( /R5G? & SKILL & 9TELLECT & SUP]IORITY ( EV]Y K9D1 MU/ BE CONFISCAT$4 ,& A BEAUTIFUL WORLD IT W\LD BE :5 ABSOLUTE EQUALITY HAD BE5 ?US A*IEV$6 ,:O W\LD LIVE 9 IT8 ,C]TA9LY NO FREEMAN47#a#a#d 8 #a#e7  

,LIB]TY WILL ABOLI% 9T]E/2 IT WILL ABOLI% PR(IT2 IT WILL ABOLI% MONOPOLI/IC R5T2 IT WILL ABOLI% TAXATION2 IT WILL ABOLI% ! EXPLOITATION ( LABOR2 IT WILL ABOLI% ALL MEANS :]EBY ANY LABOR] CAN BE DEPRIV$ ( ANY ( HIS PRODUCT2 BUT IT WILL NOT ABOLI% ! LIMIT$ 9EQUALITY BETWE5 ONE LABOR]'S PRODUCT & ANO!R'S4 ,N[1 BECAUSE IT HAS NOT ?IS P[] LA/ NAM$1 !RE >E PEOPLE :O SAY3 ,WE WILL HAVE NO LIB]TY1 = WE MU/ HAVE ABSOLUTE EQUALITY4 ,I AM NOT ( !M4 ,IF ,I CAN GO ?R\< LIFE FREE & RI*1 ,I %ALL NOT CRY BECAUSE MY NEI<BOR1 EQUALLY FREE1 IS RI*]4 ,LIB]TY WILL ULTIMATELY MAKE ALL M5 RI*2 IT WILL NOT MAKE ALL M5 EQUALLY RI*4 ,AU?ORITY MAY 7& MAY NOT7 MAKE ALL M5 EQUALLY RI* 9 PURSE2 IT C]TA9LY WILL MAKE !M EQUALLY POOR 9 ALL ?AT MAKES LIFE BE/ WOR? LIV+47#a#a#d 8 #a#f7 

,FROM 3 FAIR-USE4ORG4 

,*RONOLOGY 3 
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