Summary

Summary of the guiding ideas of The Free Market Center Journal.

Purpose

The purpose of The Free Market Center Journal consists of eliminating ignorance and misinformation about free markets by clearly defining the principles, theories, and values governing free markets.

Values

  • Life – Every individual has a right to life.
  • Liberty – Every individual has the freedom to act based on his personal preferences as long as he does not impede the freedom of other individuals.
  • Property – Every individual has a right to own his own body and the fruits of his own labor.

Theories

  • Subjective Value – The subject preferences of individuals provide the only source and measure of economic value. (Distinct from the principle that economic value exists.)
  • Exchange – Why and how individuals trade their property to satisfy their wants.

Principles

  • Value – All goods have value. The theory of value explains the source and measure of that value.
  • Individualism – Like all organisms, humans have a discrete nature. They exist as individuals, separate from all other individuals.
  • Action – Humans always act in their own best interests.