The envy-driven masses do not care a whit for what the demagogues call the “bourgeois” concern for freedom of conscience, of thought, o
The first self-conscious school of economic thought developed in France shortly after the publication of Cantillon's <i>Essai</i>. They called themselves "the economists" but later came to be called the "physiocrats," after their prime politico-economical principle: physiocracy (the rule of nature).
Antitrust keeps superior products and marketing strategies from harming rivals, but halting such innovation harms consumers. It inhibits superior firms from passing on their efficiencies to consumers in lower prices.
Julian Assange, through WikiLeaks, has made available to society a vast collection of information that undermines the state’s legitimacy.
Private ownership of the means of production is the fundamental institution of the market economy.
The claim that monetary policy has nothing to do with inflation is nothing new. The Conference Board said the same thing in 1957, and here is Henry Hazlitt's response — from his Crisis and How to Resolve It — to the notion that it is not money expansion but costs of business that is pushing prices.
If a handful of large US banks will be the major beneficiaries of the Panama Canal treaty, have they also had any role in lobbying for or negotiating the treaty itself? Or will their gains be merely a lucky windfall from decisions made by the US government for very different reasons?
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.
"In working with leftists against the draft and the Vietnam War," writes Rothbard in this passionate article, "I never had the absurd notion of converting them to capitalism, either sneakily (as Efron would have it) or otherwise.... We are living in the real world, where <em>facts</em> are important."
