The "What is Money?" Show cover image

The Psychology of Property | The Stephan Kinsella Series | Episode 4 (WiM235)

The "What is Money?" Show

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Pareto Superiority or Superiority?

Rothbard: The one sure means of increasing social wealth is to respect property rights. He says the only way you can have Pareto optimality or superiority assumptions is to assume an institutional background of respect for rights where there's no coercion and there's no dominance, right? Rothbard: If I rob you, that maybe in some sense you could say I'm better off because now I have a resource I didn't have before. But you're worse off. And so society is better off by a factor of three.

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