ILYA SOMIN ON the libertarian law and economics of Batman. Plus, from the comments: “Superman seems like more of a cultural conservative superhero, someone who has supernatural powers in whom to grant authoritarian trust. Batman seems libertarian, a private party using his skills and intelligence to overcome wrong, outside the government.” Plus: “The only villains Batman goes after are those who have themselves violated the harm principle (usually by killing innocent people). He doesn’t go after perpetrators of purely victimless crimes or people he dislikes because disapproves of the way they live their private lives.”

On the other hand, what about the minority shareholders?