Right-Libertarian Theory of History. Part IV: A Reformulation of the Capitalist Libertarian Government

The article “Right-Libertarian Theory of History. Part III: The Libertarian Capitalist Government” proposes a model of libertarian government that is unsustainable in practice. Its fundamental problem stems from the principle of absolute private ownership of land. Such a government would not remain undivided; rather, given the advantages of isolation, whereby each large landowner could become an independent microstate, society would tend toward feudalization, thereby leading to the disappearance of the free market. Furthermore, from a social perspective, absolute private ownership of land negates the validity of the axiom of absolute individual self-ownership. Consequently, in such systems, individual liberty would become subordinate to the will of the authority. Thus, a libertarian government founded on absolute private ownership of land is effectively equivalent to a state government. Faced with this paradox, which paleolibertarians cite to justify the restoration of absolute monarchy, it is posited that the only viable solution is for the capitalist libertarian government to take the form of a private corporation owned by every individual in society. This implies that every citizen would be a shareholder-owner of the libertarian government, entitled to receive a steady income in the form of dividends. Only in this way will the axiom of absolute self-ownership coincide with the right to private ownership without any contradiction.