Mr. Douglas will describe how insider trading laws criminalize several forms of economic inequality. Property law generally protects a business owner’s freedom to profit from trade secrets and business opportunities, and by setting prices. By contrast, the prohibition on insider trading undermines the usefulness of information for its owners and treats less informed investors as victims of investors with information advantages. The result is a system of regulation that actively redistributes and even nullifies investors’ wealth—all in the name of protecting property rights in information.
Recorded live on July 5, 2022 as part of the Objectivist Summer Conference.