Voluntary Cooperation. [Liberty, May 24, 1890.] It is questionable whether Herbert Spencer will relish Mr. Donisthorpe’s classification of him as one of four lights of Anarchy. I think he would be justified in putting in a disclaimer. No doubt Anarchy is immeasurably indebted to Mr. Spencer for a phenomenally clear exposition of its bottom truths. But he entertains heresies on the very questions which Mr. Donisthorpe raises that debar him from recognition as an Anarchist. His belief in compulsory taxation and his acceptance of the majority principle, not as a temporary necessity, but as permanently warranted within a certain sphere, show him to be unfaithful to his principle of equal liberty, as Mr. Donisthorpe has convincingly demonstrated in his recent book on...
These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal A Loan is a Service On the one hand, it is very true, as you have unquestionably established, that a loan is a service. And as every service has a value, and, in consequence, is entitled by its nature to a reward, it follows that a loan ought to have its price, or, to use the technical phrase, ought to bear interest. But it is also true, and this truth is consistent with the preceding one, that he who tends, under the ordinary conditions of the professional lender, does not deprive himself, as you phrase it, of the capital which be lends. He lends it, on the contrary, precisely bec... (From : Anarchy Archives.)