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On the one hand, the sanctity of private property and private contracts is held to be a matter of inalienable natural right, guaranteed by the fundamental facts of morality, if not a basic part of Objective Reality; capitalism is the Right Thing to Do. On the other hand, much effort is devoted to arguing that unfettered laissez-faire capitalism is also the economic system which will produce the greatest benefit for the greatest number, indeed for all, if only people would just see it. Natural right therefore coincides exactly with personal interest. A clearer example of wishful thinking could hardly be asked for. It’s not hard to see what function this plays, rhetorically. Many people who are not persuaded by the natural right argument can be lead to go along with libertarian proposals by considerations of economic efficiency. (I imagine the number of people who are unpersuaded of the economics, but buy the sanctity of property, is much smaller.)

Liberty! What Fallacies Are Committed in Thy Name!, from the Three Toed Sloth blog, 2004, HT Henry at the Crooked Timber blog

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