I’m not well versed in the subtleties of a libertarian system
That’s because no such system has ever worked for more than a few months. In the few attempts that have occurred, there’s no way to prevent tragedy of the commons type situations and everything quickly goes to shit. They either end up reinventing taxes or getting overrun with bears.
I’m having an “akshually” moment here. For what it’s worth, the Tragedy of the Commons refers to over-exploitation of material resources that are held in common by a community, like public grazing land in Hardin’s famous essay. That can’t happen in a libertarian system, because there wouldn’t be any commons; all of the land would be privately-owned.
The closely-related concept that plagues libertarian systems is the Free-Rider Problem, which refers to people not paying the cost of a public good, which is defined as one that is non-excludable (can’t stop people from using it), and non-rivalrous (use or benefit by one person doesn’t prevent use or benefit to anybody else). A classic example of a public good is a lighthouse. Any ship can use a lighthouse, even those that don’t help pay for its maintenance. The incentive is not to pay, so public goods are the things that every successful society has to re-invent taxes to pay for.
That’s because no such system has ever worked for more than a few months. In the few attempts that have occurred, there’s no way to prevent tragedy of the commons type situations and everything quickly goes to shit. They either end up reinventing taxes or getting overrun with bears.
I’m having an “akshually” moment here. For what it’s worth, the Tragedy of the Commons refers to over-exploitation of material resources that are held in common by a community, like public grazing land in Hardin’s famous essay. That can’t happen in a libertarian system, because there wouldn’t be any commons; all of the land would be privately-owned.
The closely-related concept that plagues libertarian systems is the Free-Rider Problem, which refers to people not paying the cost of a public good, which is defined as one that is non-excludable (can’t stop people from using it), and non-rivalrous (use or benefit by one person doesn’t prevent use or benefit to anybody else). A classic example of a public good is a lighthouse. Any ship can use a lighthouse, even those that don’t help pay for its maintenance. The incentive is not to pay, so public goods are the things that every successful society has to re-invent taxes to pay for.
“Akshually” away! That was well written and informative. :)