Skip to main content
Toward a Libertarian Reconstruction of Neoclassical Welfare Theory
Journal of Private Enterprise (2008)
  • JEFFREY ROGERS HUMMEL, San Jose State University

Many libertarians, especially those inclined toward the Austrian school of economics, counter the market-failure justification for government intervention by denying any legitimacy whatsoever to the neoclassical concept of efficiency. But properly interpreted, neoclassical efficiency, rather than providing an open-ended justification for all sorts of government intervention, provides one of the most powerful and comprehensive objections to government coercion in general.

  • Libertarian Reconstruction,
  • Neoclassical Welfare Theory
Publication Date
Spring 2008
Publisher Statement
Reprinted with permission of The Journal of Private Enterprise.
Citation Information
JEFFREY ROGERS HUMMEL. "Toward a Libertarian Reconstruction of Neoclassical Welfare Theory" Journal of Private Enterprise Vol. 24 Iss. 1 (2008)
Available at: