Austrian Economics and Compatibilist Freedom

Abstract

AbstractThe present paper probes the relation between the metaphysics of human freedom and the Rothbardian branch of Austrian economics. It transpires that Rothbard and his followers embrace metaphysical libertarianism, which holds that free will is incompatible with determinism and that the thesis of determinism is false as pertaining to human action. However, as we demonstrate, their economics with its reliance on value scales requires for its tenability compatibilist freedom. Moreover, we attempt to show that the notion of value scales (or preferences) postulated by them implies that value scales are determinative of choices people make. We contend that it is for this reason that the said Austrians should jettison their metaphysical libertarianism.