Modern Understandings of Liberty and Property: Liberty, Property, and the Law

First Published in 2000. The materials in this collection are drawn from many disciplines, including economics, law, philosophy and political science. Yet they are all directed to a topic that is worthy of examination from multiple perspectives: Liberty, Property and the Law. Stated in this general form, this topic is broad as law itself. The relationship of liberty and property to the law surfaces whenever and wherever people interact with each other under the command and control of the sovereign. This is Volume II of five and concerns the extent to which the state should enforce or override private contracts made by individuals to dispose of their labor or capital. These issues did not disappear by the onset of the twentieth century, where Volume II picks up. Generally speaking, however, the tools of analysis shifted as the advances in economic theory helped to flesh out the justifications offered for individual liberty and private property on the one hand, and their social control on the other. Although the nature of the discourse changed to some degree, the division of opinion on the proper role of liberty and property remained as sharply contested as it was in earlier times.