The Machinery of Freedom

Friedman discusses has book,The Machinery of Freedom, and offers some additional insights he has had since its publication.

David D. Friedman

David D. Friedman, son of Nobel laureate Milton Friedman, is a leading proponent of anarcho-​capitalism, the theory that the state is an unnecessary evil and that all services, including the law itself, can be provided by voluntary cooperation in the private economy.

While Friedman holds a Ph.D. in physics from the University of Chicago, he is chiefly known for his scholarly contributions to economics and law. He is the author of five books of non-​fiction as well as the novels Harald and Salamander. In The Machinery of Freedom: Guide to a Radical Capitalism, Friedman argued that an economic analysis of impact of state action points to an anarchist conclusion. In Law’s Order: What Economics Has to Do with Law and Why It Matters, he shows how directing the law to seek economic efficiency can lead to the achievement of justice.

Friedman stands in contrast to many other anarchists because of his “consequentialist” approach. Rather than argue that humans have inviolable natural rights which it is always wrong to violate, he uses cost-​benefit analysis to assert that a world without government is measurably better than one ruled by states.

David D. Friedman is an economist, political philosopher, and the author of many books including The Machinery of Freedom: Guide to a Radical Capitalism, wherein he lays the groundwork for a society based exclusively on voluntary transactions. In this Exploring Liberty lecture, Friedman discusses the main premises of The Machinery of Freedom and offers a few additional conclusions he has reached in the years after the first edition of the book was published in 1973.

Produced by Evan Banks.