Index Investing News
Sunday, June 7, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Grand Master of Reputation – Econlib

by Index Investing News
May 28, 2023
in Economy
Reading Time: 3 mins read
A A
0
Home Economy
Share on FacebookShare on Twitter


Libel is in the news.

The high-profile case, of course, is the result in the defamation lawsuit in which Fox News settled with Dominion for $787.5 million.

But the chess world is not too far behind, with a slander case brought by Grandmaster Hans Niemann demanding $100 in damages from world champion Magnus Carlsen who had accused him of cheating.

What is going on here? Of what is the perpetrator of libel (a statement in writing) and slander (one spoken orally) being accused? It is that the author of defamatory material has ruined the reputation of the victim, and the latter has suffered grievous financial and other harm. This must be a false claim, not merely a matter of opinion, or a truth, since a sharply negative book or movie review can ruin reputations, but as long as there is nothing untrue in such writing or speaking, libel law would not apply.

Libel law is thus akin to protecting private property rights. If I car jack your automobile, I am a thief; I should be made to return your vehicle to you, plus visit the pokey for a period of time. If I falsely accuse you of something, I have robbed you of something quite possibly far more valuable to you than your four wheels. The analogy is not a perfect one, since neither Dominion nor Niemann was even asking for incarceration for Fox or Carlsen, only to be made “whole” again, at least financially.

What is the libertarian take on all of this? In the analysis emanating from this quarter, there should be no such thing as libel law. Yes, slander ruins the reputation of the victim, but, paradoxically, he simply does not own his own reputation. He works hard to improve it; he benefits from it; sometimes, the good will of a company is worth more in a sale than the attached capital equipment. But, still, his reputation consists, solely, of the thoughts of others in the community and he simply cannot own their thoughts.

I now engage in some libel: Joe Biden takes candy from babies. Donald Trump takes a bath with a rubber duckie. If anyone takes these silly lies of mine seriously, these two presidents of the US will have their reputations diminished. But did I in effect steal anything from either of them? Of course not. I only denigrated the reputations of both of them, which they do not own in the first place.

Another paradox: reputations might well be safer, not in greater danger, without these laws. Right now, people are likely to think: “where there’s smoke, there’s fire. There must be some truth to these false allegations.” With no libel laws on the books, the accusations would come so thick and fast, none of them would any longer have as much power to ruin reputations. Proof, evidence, would have to be offered before people believe them.

There is one more problem with present legislation: it makes an invidious distinction between those who are public figures, and those who are not. Plaintiffs in the former category have a harder row to hoe: they must prove actual malice on the part of the defendant.

Waitasec: When Senator Rand Paul, a public figure if ever there was one, was physically attacked by his neighbor, who is not a public figure, one set of laws applies, and if the assault and battery was in the other direction, a different one would apply? There is a word for that hypothetical: unjust. Ditto for libel law.


Walter E. Block is Harold E. Wirth Eminent Scholar Endowed Chair and Professor of Economics at Loyola University New Orleans and is co-author of the 2015 book Water Capitalism: The Case for Privatizing Oceans, Rivers, Lakes, and Aquifers. New York City, N.Y.: Lexington Books, Rowman and Littlefield (with Peter Lothian Nelson ).



Source link

Tags: EconlibGrandMasterReputation
ShareTweetShareShare
Previous Post

Accolade: FY25 And Long-Term Targets Inspire Confidence (NASDAQ:ACCD)

Next Post

WSJ Says a Housing Bust is Coming For Small-Time Investors—Here’s Why They Might Be Right

Related Posts

At The Money: Grab Your Summer Rental Soon Now!

At The Money: Grab Your Summer Rental Soon Now!

by Index Investing News
June 4, 2026
0

     At The Money: Grab Your Summer Rental Soon!! (June 3, 2026) It’s not too late to get...

Sam’s Links: May Edition – Econlib

Sam’s Links: May Edition – Econlib

by Index Investing News
May 31, 2026
0

Sam Enright works on innovation policy at Progress Ireland, an independent policy think tank in Dublin, and runs a publication...

Transcript: Vimal Kapur, Chairman and CEO of Honeywell

Transcript: Vimal Kapur, Chairman and CEO of Honeywell

by Index Investing News
May 27, 2026
0

https://www.youtube.com/watch?v=sVqE7bsmtA0https://www.youtube.com/watch?v=sVqE7bsmtA0     The transcript from this week’s MiB: Vimal Kapur, Chairman and CEO of Honeywell, is below. You can...

Development by Consent – Econlib

Development by Consent – Econlib

by Index Investing News
May 23, 2026
0

March 2026 marked the 250th anniversary of the publication of An Inquiry into the Nature and Causes of the Wealth...

Transcript: Shelia Bair, former FDIC Chair

Transcript: Shelia Bair, former FDIC Chair

by Index Investing News
May 19, 2026
0

https://www.youtube.com/watch?v=Y-mjUH1lHg4https://www.youtube.com/watch?v=Y-mjUH1lHg4     The transcript from this week’s, MiB: Shelia Bair, former FDIC Chair, is below. You can stream and...

Next Post
WSJ Says a Housing Bust is Coming For Small-Time Investors—Here’s Why They Might Be Right

WSJ Says a Housing Bust is Coming For Small-Time Investors—Here's Why They Might Be Right

Binance CEO highlights timing of Beijing’s web3 white paper amid China, Hong Kong crypto regulatory changes

Binance CEO highlights timing of Beijing's web3 white paper amid China, Hong Kong crypto regulatory changes

RECOMMENDED

Simply Listed | 66 Marina Gardens Drive

Simply Listed | 66 Marina Gardens Drive

November 8, 2024
Vitality payments are an instantaneous disaster — and a long-term drawback

Vitality payments are an instantaneous disaster — and a long-term drawback

May 9, 2022
First Trailer for Apple TV+’s 60s Series ‘Palm Royale’ with Kristen Wiig

First Trailer for Apple TV+’s 60s Series ‘Palm Royale’ with Kristen Wiig

February 6, 2024
SCHC: Disappointing Returns, But Not Time To Sell (NYSEARCA:SCHC)

SCHC: Disappointing Returns, But Not Time To Sell (NYSEARCA:SCHC)

March 13, 2024
Elon Musk takes over as Twitter owner after B deal

Elon Musk takes over as Twitter owner after $44B deal

October 28, 2022
acc share value: Chart Verify: This cement participant gave breakout above ‘falling wedge’ sample; time to purchase?

acc share value: Chart Verify: This cement participant gave breakout above ‘falling wedge’ sample; time to purchase?

July 4, 2022
Put THIS in Your Lease Agreement

Put THIS in Your Lease Agreement

August 26, 2023
The Hunting of Texas Campus Conservative Kelly Neidert, by Michelle Malkin

The Hunting of Texas Campus Conservative Kelly Neidert, by Michelle Malkin

October 21, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In