Libertarians think about economic justice primarily in terms of personal freedom. Their argument is that since we all own ourselves and the fruits of our labor, we must be free to do with them as we wish, as long as we do not harm others exercising that same freedom.

Consistent with this thinking are the libertarian ideas of free markets and minimalist government.

According to libertarians, government has only three legitimate functions:

To respect and uphold the validity of contracts;

To protect private property; and,

To keep the peace.

For government to operate or interfere in areas other than these (including the marketplace) violates the libertarian principle of freedom and is thus illegitimate.

The libertarian emphasis on freedom has much merit. We are all citizens of the "land of the free." Yet, freedom pursued without regard for the well-being of society and individual citizens can easily become a fault because of the damage that can be done in the name of freedom.

Libertarian opposition to government regulation in the marketplace is based on the claim that it will stifle the ability of business to compete and that government has no business regulating functions in society that the market will putatively take care of.

This reasoning fails to acknowledge, however, that government regulation ensures that we have safer consumer products, including food and drugs, cleaner drinking water and air, reduced workplace danger, and safer automobiles with higher gas mileage.

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Sullivan: How libertarians think about economic justice