The Essential Rothbard - Ludwig von Mises Institute

The Essential Rothbard 87
Given this innovation, it hardly comes as a surprise that Abbott
defends quality competition.
Abbott shows that quality competition is not only not a poor
substitute for price competition, as modern theorists proclaim,
but essential to what he calls “complete competition,
which combines price and quality competition” . . . he
stresses the value for competition of brand names, advertising
(to satisfy consumer wants more fully and give them more
information), [and] diversity of product. 238
Despite Rothbard’s advocacy, the book never attracted much attention.
But Rothbard continued to admire it, and he several times
cites it in Man, Economy, and State. 239
ROTHBARD’S SYSTEM OF ETHICS
Although Rothbard usually found himself in close agreement
with Mises, in one area he maintained that Mises was mistaken.
Mises contended that ethical judgments were subjective:
ultimate ends are not subject to rational assessment. Rothbard
dissented, maintaining that an objective ethics could be founded
on the requirements of human nature. His approach, based on his
study of Aristotelian and Thomist philosophy, is presented in his
major work The Ethics of Liberty, 240 his most important study of
political philosophy.
Even if Rothbard is right that an objective ethics is possible, is
this view essential to libertarianism? Why abandon Mises?
238
Ibid.; emphasis in the original.
239
Man, Economy, and State with Power and Market, pp. 666, 701, 730,
979.
240
The Ethics of Liberty (1982; New York: New York University Press,
1998).