Other Schools of Thought

The Chinese communists are quite right when they accuse Khrushchev of flirting with capitalism. If he continues in this direction, while we continue our drift into socialism, Russia may indeed one day outproduce us.

Ira Levin died just over three years ago, on November 12, 2007, at the age of 78, the largely unsung author of one of the top half-dozen libertarian novels ever published in our language. <i>This Perfect Day</i> has been out of print in recent years, so largely unsung is it.

Under free trade, and without politically oriented government-monopoly militaries, no country would be able to harm another. But with the existence of politicians "leading the country," it's a different story.

Before the financial crisis, Portugal, Italy, Ireland, Greece, and Spain had been able to finance their deficits at artificially low interest rates. They all assumed that their governments would be bailed out by other countries of the eurozone in order to preserve the holy European Union.

Benjamin Franklin once remarked that the only certain things in life are death and taxes. Modern entitlement programs have created a situation in which efforts to avoid death will make tax burdens unbearable.

The connotation of unreality that the word has acquired follows from the fact that every utopia ignores the central operating lever of man: he seeks to satisfy his desires with the least expenditure of effort.

When he was in his 20s, having newly discovered libertarian ideas, having read Rand, Rothbard, Mises, Hayek, and others, having met Rothbard and conversed with him at length, Nozick was fired up with excitement.

The national furor over the TSA's new procedures has elicited the typical response from the bureaucracy and its apologists. These invasive scans and "enhanced pat-downs" are for your own good. You don't want another attack, do you?

If the entrepreneur aims at the highest possible profit, he performs a service to society in managing an enterprise. Whoever hinders him from doing this acts against the interests of society and imperils the satisfaction of consumer needs.

The economist should not allow his readers to accept the current myth that inflation is a scourge that governments try, with varying success, to keep in check. This myth is one of the consequences of economists generally failing to make explicit their assumptions.