Hate Speech in the Marketplace: An Economic Analysis of the Efficacy of Hate Speech Restrictions

The phrase ‘marketplace of ideas’ has often been invoked in arguments in favor of free speech. The metaphor is used to suggest that, in the same way that the economic marketplace naturally promotes the success of the best companies and products, a free ‘marketplace of ideas’ results in the success of the best ideas over time. In this thesis, I take a closer look at the parallels between the so-called marketplace of ideas and the economic marketplace. Specifically, I consider how various arguments for and against the restriction of hate speech can be reevaluated through the lens of economic theory. I relate perspectives on hate speech held by certain legal philosophers to the economic concepts of ‘externalities’ and ‘anticompetitive behavior.’ Ultimately, my aim is to use an economic perspective to predict the efficacy of hate speech restrictions.Plan II Honors Progra