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  • Cited by 3
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    This article has been cited by the following publications. This list is generated based on data provided by CrossRef.

    Guzmán, Ricardo Andrés and Munger, Michael C. 2014. Euvoluntariness and just market exchange: moral dilemmas from Locke’s Venditio. Public Choice, Vol. 158, Issue. 1-2, p. 39.

    Håkansson, Andreas 2014. What is overconsumption? - A step towards a common understanding. International Journal of Consumer Studies, Vol. 38, Issue. 6, p. 692.

    Shughart, William F. and Thomas, Diana W. 2014. WhatDidEconomists Do? Euvoluntary, Voluntary, and Coercive Institutions for Collective Action. Southern Economic Journal, Vol. 80, Issue. 4, p. 926.



  • Michael C. Munger (a1)
  • DOI:
  • Published online: 31 May 2011

The arguments for redistribution of wealth, and for prohibiting certain transactions such as price-gouging, both are based in mistaken conceptions of exchange. This paper proposes a neologism, “euvoluntary” exchange, meaning both that the exchange is truly voluntary and that it benefits both parties to the transaction. The argument has two parts: First, all euvoluntary exchanges should be permitted, and there is no justification for redistribution of wealth if disparities result only from euvoluntary exchanges. Second, even exchanges that are not euvoluntary should generally be permitted, because access to market exchange may be the only means by which people in desperate circumstances can improve their position.

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Eric Mack , “In Defense of Blackmail,” Philosophical Studies 41, no. 2 (1982): 273–84

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Sam Peltzman , “Constituent Interest and Congressional Voting,” Journal of Law and Economics 27 (1984): 181213

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Social Philosophy and Policy
  • ISSN: 0265-0525
  • EISSN: 1471-6437
  • URL: /core/journals/social-philosophy-and-policy
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