The New Libertarianism: Anarcho-Capitalism, Paperback

The Ludwig von Mises Institute says (reviewer David Gordon): "...this remarkable book began as an academic thesis written in 1972, and submitted the next year for a graduate degree...The book is much more than an academic thesis, though; it is a distinguished addition to libertarian thought."

The late 1960s and early 1970s marked the first wave of the libertarian movement. Ayn Rand's Objectivism had shaken mainstream philosophy with its core ideas. But Rand was a staunch advocate of limited government, a stance which distanced her from many of her own admirers and students, who saw the State not as the protector but the enemy of human society.

At the same time, the political and economic thoughts of Dr. Murray Rothbard clarified the route libertarianism must take. Rand and Rothbard, two forces seemingly at odds, personally and ideologically. J. Michael Oliver, then editor of the nationally circulated objectivist-libertarian journal, "The New Banner," argued that it was a false division.

Written in 1972 as an academic work but not published until now. "The New Libertarianism: Anarcho-Capitalism" inexorably links objectivist principles with anarcho-capitalism, and argues that libertarianism, both then and now, must be founded upon the bedrock of Rand's philosophy if it is to remain vital.

J. Michael Oliver has been a student of objectivism since 1965. He was very active in the small and emergent libertarian movement in the late 1960's and 1970's, a period in which diverse strains of libertarianism were gathering pace and solidifying their ideas. In 1971 he was the founder and editor of "The New Banner," a nationally-circulated, objectivist/libertarian periodical that while fully accepted Rand's philosophical premises, rejected Ayn Rand's limited government political concepts, concluding instead that anarcho-capitalism was the logical/practical political position of objectivist philosophy. In 1975 he moved away from a would-be academic career in political philosophy, and became a gold futures market specialist with E.F. Hutton. He continued as a futures specialist with several firms until 1992, when he shifted to market analysis. By means of his own proprietary methodology of technical analysis, "momentum structural analysis," he has provided timing/ analysis research to mutual funds, hedge funds and financial institutions for over 20 years.