Most academics in the social sciences assume that civilization is saved by attacking such antiquated and anti-egalitarian notions as property rights and freedom of association, writes Chris Westley. This is notable because universities used to be concerned with the business of discovering and teaching the truth.
It is hard to understand the vague and ill-defined laws Martha Stewart and Sam Waksal are accused of violating. But the premise of the law is not hard to divine: Competition in capital markets must proceed from a level playing field. All investors are entitled to the same information advantage irrespective of effort and abilities. In a word, socialism!
Those who have written in favor of distributism on moral grounds appear to revel in their ignorance of economics--as if a discipline devoted to the application of human reason to the problems of scarcity in the world could actually in itself be antagonistic to ethics and faith.
The statement given by the Bush administration to Congress and now available online, entitled "The National Security Strategy of the United States," must be read to be believed, writes Joseph Stromberg. Its historical points are dubious, its economics misleading, and its social theory a heap of dangerous half- or third-truths.
Those who think ethics is bogus, and there are literally thousands of them in universities and colleges across the globe, seem unwilling to apply moral ambiguity where it actually does apply. For example, why are capitalist institutions so often subjected to blanket moral condemnation?
Modern Americans live lives considerably less simple than that of Henry David Thoreau on Walden Pond. But Thoreau's insights in "Civil Disobedience," writes Gary Galles, are more important in our far more complex world.
The main victims at the World Trade Center were, after all, working for the private sector. They were traders and merchants, people dedicated to economic enterprise. In an ironic tribute to their value, these people were targeted because the terrorists hoped to cripple the US economy. It would appear that the terrorists understood something that even our own elites do not understand.
This is the last formal lecture by Ludwig von Mises delivered May 2, 1970 at an economic seminar in Seattle, Washington.
In aiding drought-striken Canadian farmers, insurance providers can succeed where the state has failed. It is but a bit more evidence that private enterprise is more productive than the central planning of any government program, even those designed to create rain.
Capitalism is not so much a social system, writes Llewellyn Rockwell, but the natural result of a society wherein individual rights are respected, where businesses, families, and every form of association are permitted to flourish in the absence of coercion, theft, war, and aggression. In this way, and despite the current anti-business frenzy, capitalism is an indispensible expression of freedom.
