Libertarian economics in one simple lesson: All interactions must be voluntary.
The problem I see with libertarians is that they completely disregard all macroeconomy. They treat all interactions at microeconomic level. I've heard little in the way of how to treat :
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I don't disregard macro economics. I just don't believe government should have the power to manipulate the economy.
Well, precisely. The simplest example I can think of as a libertarian failure : externalities.
If a factory pollutes a river, who would be in charge of regulating its activites ? What would stop them from polluting?
And how would they pay for degrading a public good ( since they don't actually own the river )?
It sounds like you've been talking to radical anarchists. Libertarians, in the main, don't reject the role of government in protecting the commons.
More like radical libertarians... they reject any government intervention whatsoever.
And that is just for starters, that still leaves monopolies, oligopolies and systemic failures to deal with:
How would a libertarian society deal with partial coverage and skyrocketing prices fueled by the combination of insurance companies and healthcare companies? Health care is quite innelastic, and insurance companies just dampen competition .