"The legitimate, the equitable compensation for the loan of money, is the cost of labor in lending it and receiving it back again."
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Josiah Warren was born on June 29, 1798, in Massachusetts, United States. A musician and inventor, Warren became interested in social reform after experiencing the economic turmoil of the Panic of 1819. Inspired by the ideas of Robert Owen, he participated in the New Harmony utopian community, but left disillusioned with Owen's collectivist approach.
Warren went on to develop his own philosophy of 'individualist anarchism'. He argued for a society where individuals would interact through 'equitable commerce', a system based on labor notes representing time worked, which he believed would ensure fairness. He attempted to implement these ideas through several 'equity stores' and other ventures. Warren's ideas of individual sovereignty and cost the limit of price have influenced many in the anarchist tradition. His work 'True Civilization' is considered a foundational text of individualist anarchism.
Date of Birth: 1798-06-29
Date of Death: 1874-04-14
Country of Birth: United States 
Political Ideas: Individualist Anarchism, Equitism
Quotes Available: 10
