Why Pr. Block Is Not Entirely Right and Pr. Tullock Is Completely Wrong: The Case for Road Privatization

      The role of the private sector in the production of road services has been extensively studied and has generated substantial theoretical and empirical work (Block 2006; Carnis 2006; Roth 2006). There is debate as to the modalities of privatisation (Block 2006; Carnis 2003; Hoppe 1991) and the functioning of a market system for the providing of road services (Carnis 2001; Roth 1996; Block 1979).

Why Subjectivism?

 

Insights and Exaggerations

Economists of the Austrian school put special emphasis on subjectivism. This article reviews why subjectivist insights are important, but it also warns against exaggerations. The latter part, while briefer, particularly warrants attention in Austrian circles.