Sanctity of Contract
[A]n essential function of government [is] the protection and enforcement of contracts, including the resolution of disputes that arise therefrom—their impartial resolution, in accordance with objectively defined laws. Under such a system, none of the parties needs to (or may) decide unilaterally that he is a victim with the onus of taking physical action to repair his interests. Here again the government acts to defend men’s rights and thus to prevent any arbitrary use of physical force. Proper civil courts, Miss Rand observes, are “the most crucial need of a peaceful society.” Criminals are a small minority; contractual protection for honest undertakings, however, is a daily necessity of civilized life.
—Leonard Peikoff, Objectivism: The Philosophy of Ayn Rand
The task of defining the many forms of physical force, direct and indirect, including all the variants of breach of contract, belongs to the field of law.
—Leonard Peikoff, Objectivism: The Philosophy of Ayn Rand
- “Antitrust: The War Against Contract” (An article by Thomas A. Bowden in The Abolition of Antitrust, available for purchase from the Ayn Rand Bookstore)
- “The Morality of Moneylending: A Short History” (An article by Yaron Brook in The Objective Standard)