Ask a socialist critic of capitalism how to define capitalism and you will probably receive an incoherent answer. Defining these ways of social organization is vital and understanding them is even more important.
Not even your Roomba vacuum cleaner is safe from state control. Time for the state to give up all economic controls across the board.
The movement toward liberty has roots in two eras, neither of which saw much liberty. One lineage comes from the Enlightenment while the other emanates from ancient philosophers.
Murray Rothbard entered Columbia University at age 16 and by the time he was graduated from that institution with a Ph.D. in economics, he already had done path-breaking work in economics. His legacy has only grown since then.
Vail recognized that market competition and “regulation and control are inconsistent with each other, and cannot be had at the same time.” Obviously, Vail favored the latter.
The left is trying to reframe the Jason Arday affair as a witch hunt in which a racist media and a jealous professor hounded him to suicide. However, it was Cambridge University that failed, not those that sought the truth.
There are two types of nationality. The first, as defined by Ludwig von Mises, involves people united by common languages and customs. The second is defined by the state.
Keynesian theory says that the way to end a recession in which the economy is in a “liquidity trap” is for government to ramp up spending. Murray Rothbard demonstrated that this policy actually blocks an economic recovery.
In America, French-style violence was simply unnecessary for the revolutionaries to win, and we will never know if the Americans might have resorted to greater violence in different circumstances.
While not as effective an economist as Ludwig von Mises or Murray N. Rothbard, Ludwig Lachmann played an important role in the revitalization of Austrian economics after 1974.
