of all arable land and a North American mining company in Peru encroaching upon and seizing the lands of neighboring Indian peasants. The chapter explains that the answer to what our view should be towards investment in oil lands depends on the justice of the property title established in each specific case. Rothbard argues that if the oil company uses the government of the undeveloped country to grant it a monopoly concession to all the oil in a vast land area, thereby agreeing to the use of force to squeeze out all competing oil producers who might search for and drill oil in that area, then the company is illegitimately using the government to become a land-and-oil monopolist. Rothbard also argues that the current programs for "land reform" in the undeveloped countries are fallacious since it generally involves minor transfers of the least fertile land from landlords to peasants, which is unjust if the landlord's title is just. The chapter also discusses feudalism and its relationship with the strong state, and the errors in the dichotomy between feudalism and the strong central state. Self-defense and punishment Chapter 12, "Self-Defense", argues that every person has the right to defend their justly-held property by violence against violent invasion, as well as the right to hire or accept the aid of others for such defending. However, defensive violence may only be used against an actual or directly threatened invasion of a person's property, including intimidation or fraud. The threat of aggression must be palpable, immediate, and direct, and the burden of proof that the aggression has begun must be on the person who employs the defensive violence. Rothbard also explains how fraud is implicit theft and fraudulent adulteration is equally implicit theft, both violating the right of free contract derived from the rights of private property. Rothbard argues that inciting to riot is a pure exercise of a man’s right to speak without being implicated in crime, but if someone incites a riot while being involved in a criminal conspiracy, they would be just as responsible for the crimes committed as the other members. Rothbard also states that every man has the absolute right to bear arms for self-defense or any other licit purpose, and that the crime comes not from bearing arms but from using them for purposes of threatened or actual invasion. Rothbard also asserts that the purpose of every judicial