Some thoughtful reflections on Robert Nozick, father of libertarianism: Even he gave up on the movement he inspired. - By Stephen Metcalf - Slate Magazine
Even the prime theorist for what became current libertarianism, stepped away from his flawed assumptions.
Or, put another way, Paul Ryan ain't Wilt the Stilt.
[...]Just as Nozick would have us tax every dollar as if it were earned by a seven-foot demigod, apologists for laissez-faire would have us treat all outsize compensation as if it were earned by a tech revolutionary or the value-investing equivalent of Mozart (as opposed to, say, this guy, this guy, this guy, or this guy). It turns out the Wilt Chamberlain example is all but unkillable; only it might better be called the Steve Jobs example, or the Warren Buffett* example. The idea that supernormal compensation is fit reward for supernormal talent is the ideological superglue of neoliberalism, holding firm since the 1980s. It's no wonder that in the aftermath of the housing bust, with the glue showing signs of decay—with Madoff and "Government Sachs" displacing Jobs and Buffett in the headlines—"liberty" made its comeback. When the facts go against you, resort to "values." When values go against you, resort to the mother of all values. When the mother of all values swoons, reach deep into the public purse with one hand, and with the other beat the public senseless with your dog-eared copy of Atlas Shrugged.[...]